Posted by Riley on January 26, 2002 at 11:44:19:
In Reply to: Re: How much can the landlord hike the rent? 20% on a vacancy posted by wepa on January 25, 2002 at 20:32:32:
Great. Thanks for the good advice.
: The landlord could raise it as much as 20% for a new vacancy so $1600 is under what he could leagaly charge you. ($1716)
: Make sure the rent is listed at $1600 and is NOT a preferential rent, and that ALL rent increases are based on the current rent NOT the legal rent ($1716)
: Because if the enconomy gets better in a year 2 years your NEW lease rent Could be raised to $1716 + the yearly increases.. ouch!
: : I'm thinking about moving into a rent stabilized apt. in NYC. The tenant who just left was paying $1430 a month, but the landlord wants me to pay $1600. Is that a legal rent increase, given the rent stabilization laws? I thought price increases were limited to smaller increments. Please advise. Thanks. Riley
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