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Re: renewal rent increase

Posted by DK on January 27, 1999 at 12:03:38:

In Reply to: renewal rent increase posted by Kirsten on January 27, 1999 at 11:27:46:

Welcome to the "free market" in rental housing! Unless your landlord receives some type of tax abatement your apartment is probably exempt from rent stabilization. All you can do is try to negotiate a more reasonable rent. Otherwise you will have to move.

: 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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