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Re: Landlord wants to raise rent 20%! Help, need info!

Posted by Mark Smith on February 22, 1999 at 15:18:08:

In Reply to: Landlord wants to raise rent 20%! Help, need info! posted by William on February 22, 1999 at 09:02:17:

If your landlord is someone who purchased the apartment and is a genuine shareholder, the landlord does not have to renew your sublease. You will have to negotiate the terms of any renewal. However, if your landlord is a "holder of unsold shares" (the sponsor or a successor), the landlord has to renew your sublease at a "reasonable" rent. What is reasonable would be up to housing court. If your landlord is a rent stabilzed tenant, you should be able to renew at rent stabilized increases. But it doesn't sound like the apartment is stabilized, because you have been subletting for so long.

I would checking with DHCR, just to make certain that your apartment is not rent stabilized. If not, retain an experienced housing attorney to negotiate with the landlord for a renewal lease.

: I have been leasing an apartment in a prewar co-op
building for the last five years. The landlord
supplied a lease for the first two years, but since
hasn't given me one. He currently wants to raise the
rent by 20% this year and another 15% next to write
up his unit to market value. Is this legal, and what
can I do to prevent this? I think the apartment is
rent stabilized.

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