Posted by Al Gordon on July 29, 1998 at 09:26:27:
In Reply to: verbal agreement to extend lease posted by gerry on July 28, 1998 at 17:48:09:
The answer to your question depends on a few things. What State you live in, what kind of building (stabilized?, how many apartments in building?) or house you live in. In many cases, the landlord is obligated to renew your lease upon your demand AND can not raise the rent as much as he wants to but can only raise it by a certain percentage (such as 2% or 4%). If you live in NY State, contact (DHCR) Dept of Housing and ask them if he will have to renew your lease and if their is a limit on the increase.
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