No Negotiating Power?

[MFH1999]

Hi,

I just received my lease renewal and the LL is asking for a 12% hike. Is this legal? I received the letter last week and need to make a decision by 6/1, I thought I would at least have 60 days to decide. I have been reading about the rent stabilized guidelines, but guessing my building is not rent stabilized because on the lease it says "this apartment is not regulated under the rent control of the rent stabilization law of New York state of NYC".

Does this mean I have no negotiating power to lower the increase? I have paid my rent on time and in full every month and take good care of the apartment.

Do renters who live in non regulated buildings have no rights?

Thanks for your help!

[TenantNet]

Buildings are not regulated; apartments are.

"under the rent control of the rent stabilization law"

That makes no sense.

Nevertheless, just because your lease says it's not regulated, does not make that a true statement necessarily. You need to research if it was regulated and if it was legally deregulated.

If indeed regulated, then any increase can be legal.

To a significant decree, renters in unregulated units have little power because they have undermined the efficacy of the rent regulation system.

[MFH1999]

Thanks! Is there a website I can view to see if the rent was regulated and legally regulated?