---

Posted by Mark Smith on February 15, 1999 at 17:47:59:

In Reply to: what is the current vacancy allowance? posted by Katy Hansen on February 15, 1999 at 12:42:59:

: what is the current vacancy allowance? I heard it is was 20%, but this sound high to me. This is for a rent stabalized building.

The 1997 rent reform act calls for a minimum increase of 20% for a two-year lease. In accordance with that same law, that works out to an 18% increase for a one-year lease. The increase can be even larger, depending on how long the prior tenant lived in the apartment. And the landlord can also increase the monthly rent by 1/40 of the cost of any improvements made in the apartment.

Follow Ups:

• Let me give real world example... W Cramer 2/16/99 (0)
• RGB increase in addition MikeW 2/16/99 (1)
  • Re: RGB increase in addition TenantNet 2/21/99 (0)

---

Note: Posting is disabled in all archives
Post a Followup

Name    : 
E-Mail  : 
Subject : 

Comments:
: 
: : what is the current vacancy allowance? I heard it is was 20%, but this sound high to me.  This is for a rent stabalized building.

: 
: The 1997 rent reform act calls for a minimum increase of 20% for a two-year lease.  In accordance with that same law, that works out to an 18% increase for a one-year lease.  The increase can be even larger, depending on how long the prior tenant lived in the apartment.  And the landlord can also increase the monthly rent by 1/40 of the cost of any improvements made in the apartment.


Optional Link URL:  
Link Title:         
Optional Image URL: 

---