Rent Controlled Building / Non Controlled Lease

[ImpulseNYC]

It turns out that my building is listed on this site as rent controlled. My lease, however, does not mention this at all. My lease says that I am paying preferential rent of $1500 and the market value is $2200. What does this mean exactly? Should I have insisted on a rent-controlled lease? The apartment does not strike me as one that would rent for $2200. Am I protected at all under the rules of rent controlled apartment?

[jot0n0]

Just because a building is listed, as rent controlled does not necessary mean every unit in the building is rent regulated. For an apartment to be under rent control, the tenant must have been living in that apartment continuously since before July 1, 1971. When a rent controlled apartment becomes vacant, it either becomes rent stabilized, or, if it is in a building with fewer than six units, it is generally removed from regulation. An apartment in a one- or two- family house must have a tenant in continuous occupancy since March 31, 1953 in order to be subject to rent control. Once it is vacated after that date, it is no longer subject to regulation. Previously controlled apartments may have been decontrolled on various other grounds.

Preferential rent means you are pay rent below what the market/regulated rent would be due to various reasons, but it usually means LL couldn’t find anyone to rent the apt for $2,200 so he settling for $1,500 instead.

<small>[ June 05, 2003, 01:13 PM: Message edited by: John ]</small>