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deregulation, j-51 tax abatement

Started by totally
almost 17 years ago
Posts: 40
Member since: Nov 2008
Discussion about
I have read a few articles on the Tishman rent deregulation saga, but there are a few things I do not comprehend. If I live in an apartment that was deregulated prior to my lease signing and my landlord takes the j-51 tax deduction, does this mean he might owe me? Thanks for patience. I just don't understand how this situation works and how it affects the general single building owner.
Response by aboutready
almost 17 years ago
Posts: 16354
Member since: Oct 2007

yes, deregulation lies with the apartment in these cases. your rent can exceed $2000 and it will still be deregulated, but the increases can only be consistent with the yearly ones allowed the the rent board. (if the court rules that landlords can't deregulate while receiving j-51 abatements).

BUT, i don't know what the case would be if the landlord was not taking the j-51 deduction, deregulated, and then applied for j-51. my gut would say the deregulation would stand, but that's just conjecture.

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