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Posted by TenantNet on December 16, 1997 at 01:23:40:

In Reply to: Initial Legal Regulated Rent posted by Frank Longo on December 14, 1997 at 22:30:40:

: I've just moved into an apartment in NYC which is being registered for the
: first time as Rent Stabilized after being registered previously as Rent
: Controlled. If I understand correctly, the initial legal regulated rent
: that may be charged is determined as a percentage increase over the past
: year's Rent Control Maximum Base Rent (MBR) averaged against rents
: generally prevailing in the same area for similiar apartments. If the
: MBR for the apartment is 457.78 and the average rent for similiar
: apartments in this area is below 700.00 ( info from broker ), how can my
: rent be 743.39?

You have 90 days after service of the Initial Registration (RR-1) to file
a Fair Market Rent Appeal. There is a formula (see the RGB orders) and DHCR also
uses "comparables" to determine the FMR. The rent can also be increased
by any improvements put into the unit.

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Comments:
: : I've just moved into an apartment in NYC which is being registered for the
: : first time as Rent Stabilized after being registered previously as Rent
: : Controlled. If I understand correctly, the initial legal regulated rent
: : that may be charged is determined as a percentage increase over the past
: : year's Rent Control Maximum Base Rent (MBR) averaged against rents
: : generally prevailing in the same area for similiar apartments. If the
: : MBR for the apartment is 457.78 and the average rent for similiar
: : apartments in this area is below 700.00 ( info from broker ), how can my
: : rent be 743.39?

: You have 90 days after service of the Initial Registration (RR-1) to file
: a Fair Market Rent Appeal. There is a formula (see the RGB orders) and DHCR also
: uses "comparables" to determine the FMR. The rent can also be increased
: by any improvements put into the unit.




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