Posted by TenantNet on February 22, 1999 at 23:31:06:
In Reply to: Re: Landlord wants to raise rent 20%! Help, need info! posted by Mark Smith on February 22, 1999 at 15:18:08:
: 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.
You're referring to the recent case on the holder of unsold shares. But
in this case it appears he is a tenant (not what we commonly call a
sublettor), but in NY parlence, the owner of the coop is the "tenant"
and he's the "sublet." The owner/"tenant" would not be rent stabilized,
but the tenant/"subtenant" could be stabilized if he was in occupancy
at time of the conversion. Hope that all makes sense.
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