Posted by TenantNet on March 07, 1999 at 07:45:30:
In Reply to: Housing Court deals posted by Jean F on March 04, 1999 at 00:03:02:
The money they are offering is chump change, and may cover moving costs. They will have a windfall and probably illegally charge new tenants. This is how tenants across the city are losing their rights. Try to avoid a buyout, but if you do, make sure it is worthwhile, depending on your rent and location. BTW, the money you get may indeed be taxable, and the LL may report it to the IRS.
: I'm a NYC rent stabalized tenant and just had my first day in Housing Court yesterday. The landlord's lawyer offered to forget the 3 months rent and pay me extra, like a couple of thousand, to move out soon. I lost my job, I can live with my brother for awhile. Is any of this money, the rent part or the extra part, taxable? If I can get them up to say $4000 and I can keep all of it, then its $4000. If theres tax, its only $3000, isn't it?
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