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Re: How much can the landlord hike the rent? 20% on a vacancy

Posted by wepa on January 25, 2002 at 20:32:32:

In Reply to: How much can the landlord hike the rent? posted by Riley on January 25, 2002 at 19:39:20:

The landlord could raise it as much as 20% for a new vacancy so $1600 is under what he could leagaly charge you. ($1716)

Make sure the rent is listed at $1600 and is NOT a preferential rent, and that ALL rent increases are based on the current rent NOT the legal rent ($1716)

Because if the enconomy gets better in a year 2 years your NEW lease rent Could be raised to $1716 + the yearly increases.. ouch!

: I'm thinking about moving into a rent stabilized apt. in NYC. The tenant who just left was paying $1430 a month, but the landlord wants me to pay $1600. Is that a legal rent increase, given the rent stabilization laws? I thought price increases were limited to smaller increments. Please advise. Thanks. Riley

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