Please note, this is is outside NYC and so NOT in rent control.
I'm wondering, as a friend of mind says he has the option of getting a 2 year lease instead of 6 month or 1 year and says that will guarantee no rent increase for two years. Is it possible for an apartment complex owner to increase rent in the event of some inordinately high tax increase by a municipal entity?
I guess is it poissible that a lease could contain a provision for an rent increase if a tax increase occurs, but how likely is it that such a provision is typically called "the fine print."
So that someone who says "I'm fine for two years" (because of a two year lease) but maybe they didn't read the "fine print."
If a provision for an increase during the lease is included, would it have to be worded like "rent increase......if taxes increase more than X%" or would a provision be worded more like "rent increase.....if taxes increase in excess of an amount as defined in Section 123 if the real property law or as defined in Section 456 of the General Obligations law..."
In other words if it was the latter provision where the tenant really needs to refer to the actual law to read "as defined." You know what I'm getting at, yes?