My LL failed to offer me a renewal lease in January 2020 when my last lease was up. Since then I've been a month-to-month tenant. This month, the landlord finally offered a renewal lease to start in January 2020, using the guidelines rate in effect for January 2024.
My understanding is that if the LL fails to offer a timely renewal, they still have to use the guideline rate in effect had they offered a timely renewal. In other words, they can offer a rewewal lease, but they have to use the guidelines rate in effect in January 2020.
According to the regs, found here: http://www.tenant.net/Rent_Laws/RSC/rsc2523.html
(1) Where the owner fails to timely offer a renewal lease or rental agreement in accordance with subdivision (a) of this section, the one- or two-year lease term selected by the tenant shall commence at the tenant's option, either (i) on the date a renewal lease would have commenced had a timely offer been made, or (ii) on the first rent payment date occurring no less than 90 days after the date that the owner does offer the lease to the tenant. In either event, the effective date of the increased rent under the renewal lease shall commence on the first rent payment date occurring no less than 90 days after such offer is made by the owner, and the guidelines rate applicable shall be no greater than the rate in effect on the commencement date of the lease for which a timely offer should have been made.
Can you confirm that I am interpreting this correctly?