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security deposit to renew lease

NYC Rent Regulation: Rent Control/Rent Stabilized, DHCR Practice/Procedures

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security deposit to renew lease

Postby <jureen> » Tue Mar 19, 2002 10:37 pm

I'm about to renew my lease but the landord has ask for another security deposit is that legal? I did have a problem with late rent twice and they said the only way to renew the lease is to give another deposit.Please help me i need to know pronto I'm suppose take them the money in a few days*(this will be my third year in the complex)

Thanks
<jureen>
 

Re: security deposit to renew lease

Postby consigliere » Wed Mar 20, 2002 12:39 am

The only increase in security deposit that is allowed for a rent stabilized apartment is the same 4% increase (for a one-year lease) or 6% increase (for a two-year lease) by which the rent is increased under the current order of the Rent Guidelines Board.

Being late once or twice in paying your rent is not grounds for the landlord to refuse to renew your lease.
 
consigliere
 
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