Hi there,
I've been offered a rent stabilized lease, on the appropriate form and everything. But I think the owner's wrong about the apartment being rent stabilized. The rent is below market but above the 2700 conventional maximum of rent stabilized apartments. The building is old, so I believe it's unlikely that it's rent stabilized through one of the other programs where a building could be more expensive than 2700 and still rent stabilized.
They showed me a form where the previous tenant paid about 2400, and when he vacated, due to move out and renovations, they raised the rent to 2950. I think the apartment probably graduated out of the program at that time.
If we both sign the rent stabilized lease, is the landlord held to that, even if not rent stabilized- say on a contractual basis? The reason I ask is because the broker's fee is steep, at 15% the annual rent. It's worth it if I get the protections of a stabilized apartment going forward. But I'm worried I'll pay that and then they'll gouge me with an increase next year.
Any way to protect myself here since I can't think of a way I can verify on my own whether the apartment is rent stabilized and have to rely on the owner's representation?