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Lease renewal increase on non-stabilized apartment

Posted by Susan on November 21, 1998 at 18:01:01:

For the last eight years, my friends and his family have been living in the same apartment. Their lease is up next month and they currently pay $700/mo. The area is improving and the landlord knows that he can probably get $1,200/mo for the same apartment. He told my friend that he is going to increase the rent to $925/mo. It is not a rent-controlled or stabilized building.

Does anyone know if this is legal? Where can I look for paperwork about this?

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