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Posted by J Cooper on September 24, 1996 at 13:35:31:

In Reply to: Re: Limited Rent Stabilization posted by TenantNet on July 11, 1996 at 11:21:39:

: : I have an apartment in a large building, and on the lease there was a
: rider that stated the building is rent stabilized until the year 2000,
: at which point the apartments would be fair market value. How is this
: possible?

: All buildings built prior to 1974 with 6 or more units are automatically
: covered by stabilization. If the building was built (or substantially
: rehabbed) after 1974, it is not automatic but many owners voluntarily
: opt innnto stabilization in exchannge for substantial tax abatements,
: usually under the J-51 or 421-a tax programs. In such instances the
: stabilization status is for a defined period of time. These can get complicated
: and the owner is required to notify you on each and every lease. If he
: does not, then he may forego the "lifting" of stabilization status when the
: time comes and you would then be stabilized for the duration of your tenancy.

In a building of fewer than 6 units, with a J-51 which expired years ago, does the
landlord have to file to de-stabilize the apartments once the tax abatement expired
or does it happen automatically when the apartment turns over (to a new
tenant after the J-51 expired). Does the landlord have to notify new tenants
that the building was stabilized once, but now is not?

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Comments:
: : : I have an apartment in a large building, and on the lease there was a 
: :   rider that stated the building is rent stabilized until the year 2000, 
: :   at which point the apartments would be fair market value. How is this 
: :   possible?

: : All buildings built prior to 1974 with 6 or more units are automatically
: : covered by stabilization. If the building was built (or substantially
: : rehabbed) after 1974, it is not automatic but many owners voluntarily
: : opt innnto stabilization in exchannge for substantial tax abatements,
: : usually under the J-51 or 421-a tax programs. In such instances the
: : stabilization status is for a defined period of time. These can get complicated
: : and the owner is required to notify you on each and every lease. If he 
: : does not, then he may forego the "lifting" of stabilization status when the
: : time comes and you would then be stabilized for the duration of your tenancy.

: In a building of fewer than 6 units, with a J-51 which expired years ago, does the 
: landlord have to file to de-stabilize the apartments once the tax abatement expired
: or does it happen automatically when the apartment turns over (to a new
: tenant after the J-51 expired). Does the landlord have to notify new tenants
: that the building was stabilized once, but now is not? 



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