Ok, so I'll try to sum up the important aspects, maybe someone could help advise or direct me if I'm woefully out of luck. If I'm missing important details from the lease, just let me know!
Short Version: Moved into my dream apartment about a year ago. Received lease renewal today. Rent was increased $200/month. Was under the impression that my rent couldn't be raised more than 2.2%/year as it's a rent-stabilized apartment under the 421-a tax program.
Longer Version:
Apartment is Rent Stabilized via 421-a tax benefit program through 2026.
FROM ORIGINAL LEASE SIGNED
"Previous Legal Regulated Rent" - $3400/month
Our Rent (what we pay) - $3050/month
RENEWAL LEASE JUST RECEIVED
Legal Rent on Sept 30 - $4054/month
New Legal Rent - $4115/month
OUR RENT CHARGED - $3250/month (1 year lease) OR $3525/month (2 year lease)
RENOVATIONS DONE SINCE MOVE IN - NONE That we're aware of.
Any advise? Is this legal, any questions I should be asking the landlord? Any other info needed to know my situation?
Thanks in advance!