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Rent Stabilized Rent Increases 2013-2014 question

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Rent Stabilized Rent Increases 2013-2014 question

Postby eb3 » Fri Sep 13, 2013 8:51 am

My question regards the following paragraph from the recent TenantNet email.

"The new RGB Order has percentages that are much higher than normal. Landlords might try to trick tenants into taking the effective date of the commencement of a renewal lease after October 1, when the percentage jumps from 2 and 4% to 4 and 7.75%."

My lease renews on January 1st. I just received my lease renewal postmarked September 10th. The renewal itself is dated August 21st and I know I need to return it within 60 days. The landlord is using the 4% and 7.75% rates.

Can someone tell me if I'm being "tricked" or is this the legitimate rent increase for my renewal. Thanks for any help
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Postby TenantNet » Fri Sep 13, 2013 10:58 am

No you're not being tricked.

The paragraph you cite is for tenants whose lease would be renewed before October 1, 2013. In some cases the LL fails to send the renewal lease offer in a timely fashion. In those situations, the tenant has the option of using the original renewal date or 90 days from when the proper renewal offer is actually sent.

Unfortunately you are affected by the 4/7.75 percentages. You might consider taking a one year renewal and hope that next year's RGB percentages are not as draconian.
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