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Re: Rent Increases - Rent Stabilized Apartments

Posted by MikeW on May 11, 1999 at 11:34:48:

In Reply to: Rent Increases - Rent Stabilized Apartments posted by Ian on May 10, 1999 at 14:25:54:

: 1) As the legal tenant of a rent stabilized apartment, am I correct in my belief that, so long as I am a tenant in good standing, the landlord must allow me to renew my lease every year or two, as the case may be?


: 2) Is there any advantage to signing a one year lease over a two year lease or vice-versa? (1 year has an increase of 2%. 2 year has increase of 4%)

Not given the current renewal increase %. It used to be that the 2 year % was less than 2 x the 1 year %, but somehow the made it the same. In that case, you're better off with two one year leases than a two year. As long as the rent laws are in place, you should be covered.

: 3) How can I find out what next year's allowable rent increase will be for 1 and 2 year leases?

Not yet determined. Watch the news.

: Thanks!

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