Posted by TenantNet on December 29, 2001 at 13:06:58:
In Reply to: LL wants to move me to another apt. Entitled to $? posted by Carla, F on December 29, 2001 at 02:47:33:
Never ever do a buyout without legal representation from a GOOD tenant attorney - not some guy who has a shingle to do ambulance chasing and immigration. Figure in the rent increases for the next x years - not less than 5, and make sure that's covered -- even if not under stabilization.
: I live on the Upper West Side in a rent stabilized apartment with a rent way below market (under $500). I have a small studio and I've been here 10 years. My landlord asked me to move to an apartment in another one of his buildings (nearby). He wants to turn my apartment and the one next to mine into a bigger one, and renovate it.
: The apartment he is offering me is similar to the one I have now, and he'll match my rent, even though the new apartment has a much higher rent. I'm in the first 6 months of a two-year lease.
: I don't want to move, I love my place, but I'm afraid to say no and start something. I know that he got other tenants to move to other apartments. I don't know what deal they got.
: If I say no, what can he do to me? And if I accept the offer, am I also entitled to some financial compensation? If so, how much? Is this what you call a Buyout?
: Thanks for any advice you can give me. I need to give him an answer by the first week of January.
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