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Coop renewal lease timeframe

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Coop renewal lease timeframe

Postby curiousJoe » Fri Apr 20, 2012 3:00 am

Hi all, just wondering when a coop owner is supposed to provide a renewal lease to their tenant. Is it the same for rent regulated apts (I think no more than 180 and no less than 90 days)?

Are their guidelines for how much they can raise the rent?

TIA
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Postby ronin » Sat Apr 21, 2012 11:04 am

They are under no obligation to renew at all. There is no time frame at all. If they don't renew you continue month to month, but are free to go elsewhere on 30-days notices and the LL is free to terminate your tenancy on 30 days notice (but you can fight and get 6 extra months).

Your LL is free to raise the rent to $100,000 per month. And you are free to pay it or reject it and move out. This is why rent regulation is so important. Without it housing is too unstable and pro-LL.
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Postby TenantNet » Sat Apr 21, 2012 12:42 pm

Ronin, I'm pretty sure that in NYC M2M tenants are not required to give 30 days notice (although the LL is required to do so). See the M2M info in the Forum's Reference section.
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Postby ronin » Sun May 06, 2012 12:43 am

Thanks Tenant. I keep forgetting.
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