Posted by JJ on July 04, 2001 at 23:05:09:
In Reply to: Apt. Deregulated due to rent increase of $2,000 or more posted by ADN on July 03, 2001 at 18:54:00:
: NY Tenant,
: Hi. Great site. I am hoping that you can answer this question for me. Here is the scenario:
: My upstairs neighbors just moved out. I am going to keep my apartment and take over their apartment as well. My landlord sent me a new lease for both apt's combined. He also included a "Notice to First Tenant of Apt. Deregulated After Vacancy Due to a Rent of $2,000 or More." What does this mean? After this lease is up will my landlord be able to raise the rent however much that he wants?
: If you could email me with the reply that you post here, I would appreciate that. Thanks.
This is High-Rent deregulation: look it up on tenant.net, NY Tenant Info. Basically, if any apt's rent goes over $2000, it is no longer stabilized. You lose your right to renew the lease. You lose 'reasonable ' increases of 4-6% per renewal. Yoiu lose succession rights. You are 'free-market' and face leaving Manhattan at the end of your lease.
So: don't do it! Take both apts, but do not physically combine them. Sign two leases, one for each apt. If neither single apt rent is over $2000, you keep rent stabilization and get to live in NYC for as long as you want....
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