Posted by me on December 27, 2001 at 23:26:45:
In Reply to: Re: Rent Stabilized Apartment posted by DiscoStu on December 23, 2001 at 15:00:22:
At that current rent and the vacancy allowance there is no need to put any work into the apartment to get the 1/40th increase. Anything over $2000 is automatically decontrolled so there may be enough incentive if he can make a quick profit on a higher rent.
: Normally I would say, Of couse a landlord would be happy to let you out of a rent stabilized lease, especially if he can de-regulate it, but Where do you live?. It you live downtown and by downtown I mean by the financial dirstict, then thats a different story, especially since you pay a pretty high rent. The landlord will have to put some work in to the place to raise the rent. he would probaly want to raise it up to $2500-$3000 a month. Which means he has to put some good amount of cash into the apt. He can raise the rent 1/40 for every dollar he puts in (sounds right gang?). Right now downtown apts are not renting so easily, everyone wants out. Last week the times said Manhattan rents are down 15-40%. The 40% probaly downtown. So again it all depends on where you live. Just one more thing. I'm no lawer or expert, but I read this board a lot so maybe som others can chime in as well. Also if your new to this board there may be a few posters who appear to be rude, their not, their clear and to the point and always give the BEST information and straight answers.
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