Posted by emily on August 13, 1999 at 19:45:52:
What is the percentage by which landlords can increase the rent of a rent stabilized apartment? If they increase the rent, can they also ask for more money towards an original security deposit? Is there a maximum amount that a landlord can hold as a security deposit?
My roommate and I signed a one year lease for a 2-bedroom apartment for $2025 (with a three month security deposit). Our lease renewal notice indicates that they're raising this to $2200, and they're now asking for an additional $525 security deposit. Is this as OUTRAGEOUS as it seems? Or do we just not know the laws? Any information would be greatly appreciated.
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