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renewal rent increase

Posted by Kirsten on January 27, 1999 at 11:27:46:

I just got my first lease renewal letter from my landlord. She is offering only a one year renewal (first lease was for two years) with a 23.5% increase in the rent. The building has only three apartments so I am assuming that it is not rent stabilized. Is this huge a rent increase allowed? Is there anyway to insist on another two year lease?

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