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Luxury Decontrol

Posted by J. on March 11, 1998 at 15:28:24:

If you are renting a a rent stabilized apartment for over $2000/month, how soon after your household income is greater than $175,000 can your rent be adjusted to market? For example, household income exceeds $175,000 in both 1997 and in 1998. If fourteen months remain on your lease as of Jan. 1, 1999, is your rent adjusted on on January 1, 1999 or at the end of your lease term? How much notice are you given prior to your rent increase?

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