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Posted by MikeW on August 18, 1998 at 14:44:58:

In Reply to: Re: rent up-front posted by Jennifer on August 18, 1998 at 12:15:14:

Those rules only apply to stabilized apartements. The landlord of an unregulated apartment
can ask for as much security as the like.

: In NYC, the landlord can hold a security deposit not greater than one month's
: current legal rent. If you did pay a greater amount, you can file a complaint
: of overcharge with the NYS Division of Housing and Community Renewal on its
: Form RA-89. You can file for triple damages if this did occur.

: About the interest....if there are 6 or more apartments in the building, the
: money has to be in an interest bearing account. If not, he is not required
: to do so by law. But if he does, the interest is yours.

: Good luck!

: : oh yeah....I'm not rent stabilzed, living in "unsold shares" of a
: : co-op building.

: : : I read in a newspaper that landlords do not have the legal right to demand
: : : more than one month of rent paid in advance, at least in New York City.

: : : Is this true?

: : : My broker dangled the apartment in front of me, telling me I had gotten it,
: : : and then the day I needed to sign the lease, the "landlord" supposedly
: : : changed their mind, and wanted an extra 3 months rent, applied towards the
: : : last three months of the lease....Do they have the right to do this...and
: : : do I have a right to claim interest on the money (it was a sizeable amount
: : : of money)? The landlord offered me, in writing, a new lease, with a small
: : : rent increase, making no mention of the continuation of the 3 months of
: : : advance rent provision...and now they spring it on me, just before signing
: : : this new lease.....any thoughts?

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Comments:
: Those rules only apply to stabilized apartements.  The landlord of an unregulated apartment
: can ask for as much security as the like.

: : In NYC, the landlord can hold a security deposit not greater than one month's
: : current legal rent.  If you did pay a greater amount, you can file a complaint
: : of overcharge with the NYS Division of Housing and Community Renewal on its
: : Form RA-89.  You can file for triple damages if this did occur.  

: : About the interest....if there are 6 or more apartments in the building, the 
: : money has to be in an interest bearing account.  If not, he is not required
: : to do so by law.  But if he does, the interest is yours.  

: : Good luck!

: : : oh yeah....I'm not rent stabilzed, living in "unsold shares" of a 
: : : co-op building.

: : : : I read in a newspaper that landlords do not have the legal right to demand 
: : : : more than one month of rent paid in advance, at least in New York City.

: : : : Is this true?

: : : : My broker dangled the apartment in front of me, telling me I had gotten it,
: : : : and then the day I needed to sign the lease, the "landlord" supposedly
: : : : changed their mind, and wanted an extra 3 months rent, applied towards the
: : : : last three months of the lease....Do they have the right to do this...and
: : : : do I have a right to claim interest on the money (it was a sizeable amount
: : : : of money)? The landlord offered me, in writing, a new lease, with a small 
: : : : rent increase, making no mention of the continuation of the 3 months of
: : : : advance rent provision...and now they spring it on me, just before signing
: : : : this new lease.....any thoughts?


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