Hi i live in a 4 story walk up rent stabillized building . I started paying rent of $1300 two years ago then $1325 and renewal lease of this year is $1650 .An increase of $325.. is this Right??
We can't answer without better information. Please answer these questions.
- Are you in NYC or some other county? - How many units in the building? - How old is the building (approx.) Before 1974? - Is the building coop or condo? - Did you get a DHCR rent history (do that if you haven't done so yet) - Do you have a rent stab initial lease? Did you get a rent stab renewal lease? - What was the RGB percentages for the year of your renewal? - Were there any apartment improvements before you moved in? Were they listed on the DHCR informational rider? - Have you gotten a DHCR registration each year around July?
If the rent is an even number like $1300 exactly, then chances are something is wrong. Of course the increase sounds incorrect. But you'll need to do a complete rent analysis. In the short version, you can see what the reason for the $325 increase was.
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