Hi,
Can the landlord increase the preferred rent any amount as long as it doesn't surpass the legal regulated rent?
I moved into my apartment in 2017, and when I first renewed my lease my rent increased by 6.45% (going from $1550 to $1650). When I asked my landlord, they said they were allowed to increase my rent as much as they wanted as long as it wasn't more than the regulated rent. I signed the renewal, but noticed that this year my rent is only going up 1.5%.