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It depends...

Posted by Will on April 11, 1999 at 20:08:58:

In Reply to: HHHEEEELLLPPP, need to know the legal amount?!?!?!? posted by Paul Olive on April 11, 1999 at 01:21:25:

Its going to be about 20% for the .6% per year if the previous tenant was in the apartment for more than 8years. Plus 1/40th of any renovations.

Let me give my place as example also in Queens: when vacated it was renting at $469. Because the prior tenant there forever the vacancy increase was 30%. The they did lots of renovating which all cam out pretty good now the rent I got was about $840...

So I figure if they renovate you should expect about $1000 in rent....still not bad compared to NYC proper.. has a vacancy calculator....try it.


: Hello all:
: I just found an apartment in queens today in a rent stabilized building. the current tenant is paying 687.oo for a two bedroom. Can anyone tell me what is the total legal maximum the landlord can charge. Consider the worst case scenario like major capital improvemnets, two year lease, etc. etc.

: Your help would be greatly appreciated.
: Please answer as quickly as possible.. id hate to lose out on a deal.

: Thank you very much.

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