Posted by Lilly on December 04, 2001 at 23:49:19:
In Reply to: Owner selling bldg -- what to expect ? posted by old new yorker on December 04, 2001 at 21:42:21:
It sort of depends upon who she sold it to. Nothing that the new owners can legally do to those tenants who maintain the apartment as their primary residence, pay on time, aren't violating the terms of their lease or rent regulations.
Your worst case scenario: The new owners are hell bent on getting everybody out and try to evict everyone they can or if new LL starts harassing any of the tenants, engages in a course of conduct that is intended to drive the tenant from their apartment(harassment) or doesn't make repairs in the apartments. The new owners may start to make capital improvements to the building, and your rent will rise as a result, but that's the only way to raise the rents of existing tenants. I think it would be a good idea to make contact with the remaining tenants to agree to have a consultation with an attorney. It's good to be prepared.
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