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$2000 rule

Posted by dan on November 05, 1998 at 15:54:50:

I've been subletting an apartment for two years. The legal rent is currently $1,767. The primary tenant's lease is up as of September 30. In September, I spoke to the landlord and indicated that I wished to become the primary tenant. He accepted my rent check (still for $1767) for October, but no lease was signed. I expected the rent to go up 20% (as the apt is rent-stabilized) for the vacancy allowance. But now the landlord says that once the rent goes above $2000, he can charge whatever he wants.

So I need clarification on this point: can a rent-stabilized apartment go up to market rates after the 20% vacancy allowance? Or does he have to offer me a rent-stabilized lease at $2,120.40?

Thank you.

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