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Posted by MikeW on June 27, 2001 at 11:47:18:

In Reply to: Putting an apartment under rent stabilization posted by Allen Lang on June 26, 2001 at 17:50:15:

Most of the newer (1974(?) and later) apartments that are under stabilization, are regulated because the LL traded property tax abatements for accepting stabilization for some period (usually 20 years). I haven't heard of any reason they couldn't still do that, but I doubt it makes any financial sense for LLs any more, given the rents they can get for free market apartments.

: Can an apartment, which is renting for less than $2000 a month and is not currently rent-stabilized, be put under rent stabilization if the landlord so chooses?

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Comments:
: Most of the newer (1974(?) and later) apartments that are under stabilization, are regulated because the LL traded property tax abatements for accepting stabilization for some period (usually 20 years).   I haven't heard of any reason they couldn't still do that, but I doubt it makes any financial sense for LLs any more, given the rents they can get for free market apartments.

: : Can an apartment, which is renting for less than $2000 a month and is not currently rent-stabilized, be put under rent stabilization if the landlord so chooses?


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