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HDFC Help!

Postby terri » Sun Dec 17, 2006 8:47 pm

I am renting an apartment in a HDFC (Bronx). I have been here 5 yrs & do not have a current lease - only the expired 1 yr lease from when I first moved in. I requested a current lease, but I have not & I may not receive one.

This building lost it's co-op status a while back. The building is also in debt and the word is it will probably be bought.

What will happen to my tenant status if this building is sold?

And, if I can get a new lease before the new owners, will I be able to stay and how much can my rent be increased?
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Postby Aubergine » Sun Dec 17, 2006 9:52 pm

If the building truly "lost its co-op status" (a transformation called "deconversion") then both the former shareholder-tenants, the non-purchasing tenants, and any tenants who rented from the co-op may be entitled to revert to or become rent stabilized tenants (or rent controlled tenants if they were rent controlled prior to co-op conversion). An apartment that is otherwise covered by rent stabilization is exempt as a co-op only as long as it remains a co-op. The issues involved with this situation could be complex and you should try to consult with a lawyer if at all possible. Go to http://www.lawhelp.org/ny to find a legal services office that serves your area.
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