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rent increase in a co-op owned apartment

Posted by Kayse Wainwright on September 30, 1999 at 15:18:36:

To Whom it May Concern:
Today, I received notice from my landlady of a rent increase of $300 plus another
$450 to bring the security deposit equal to the total monthly rent. I rent in
Chelsea in New York city. I rent a one bedroom from the owner of a co-op apartment
and I have a lease. I have been here for six years. Initial rent when I moved in
was $900 and three years ago I signed a lease for an increase that brought it to
$1,050. Since Chelsea has undergone a significant gentrification in these past
three years, it is true that rents have really gone up. My landlady is saying
that she needs to bring the price of our rent up to 'market price' so is now
going to charge me $1,350 a month. I live on a fixed inome and will find it an
extreme financial hardship to meet this amount every month. Is there any law
that protects me from this? I realize renting from someone that owns the
apartment is most likely not subject to rent stabilization laws, but I need to
find out anyway. I sure could use a little help right now. I am on good terms
with my landlady, I've always paid my rent every month and have done considerable
upkeep and kept the apartment in very good condition.I sure would appreciate an
answer to this inquiry as soon as possible as she hasn't given me much time to
respond... it's either accept her terms within 10 days or I have 30 days to move!
Thank you for your time.

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