Rent Stablization increases

[jwskatz]

I live in Brooklyn in a rent stabilized apartment. My lease is up October 31, 2002. I think I am on the 2 year cycle of the rent stabilization increases. If I am, what benefit will I have of signing a 2 year lease, especially if the increases are 2%(1 year) and 4%(2 year)?

[MikeW]

Not much. Acutally financially you might be better off taking the one year lease.

The only issue I'd otherwise consider, is if the rent regulation laws are going to be renewed next year. They almost died back in 97, and there's even less pressure to renew them this year. If you take a two year, at least you'll keep your stabilized rent another year.

[MikeW]

jwskatz.

You sent me a private message, but you have your profile set to disallow return messages.

The answer to your question is yes.