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"Renovations"=de-regulations

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"Renovations"=de-regulations

Postby c.hull » Sat Apr 05, 2003 12:37 am

How can one check the validity of "renovation" expenses, when a R/S apt. is "supposedly" renovated and marketed at an inflated rate. Where are the numbers and percentages?
How can a tenant, signing a new lease, find out about the prior rent and the "renovation" increases?
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Re: "Renovations"=de-regulations

Postby queenswoman » Sun Apr 06, 2003 9:15 am

I too would like to know the answer to that one as I will be moving into a rent stabilized building.
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Re: "Renovations"=de-regulations

Postby MikeW » Mon Apr 07, 2003 11:27 am

The second question is the easier of the two to answer. The DHRC has the records of the registered rent history for all regulated apartments. You can write to them and they'll send you the history.

Challeging a rent increase due to a regulation is more complicated. This probably involves a lawyer and a trip (or several) to court, or to the DHRC. You'll probably have to hire an engineer to review the renovation and get an estimate of how much it 'should' cost, and supoena, then challenge, the LL documentation. This is a long, hard, expensive process. However, with a sizable pot of gold at the end.
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