rent stabilized apartments

on renewal they can raise it however much they want as long as it is the stabilized price or below. this is something rockrose does with all leases. it's a way of writing in a protected huge increase that you can not argue at a later date. often they don't make the jump all the way to the top rental rate but they do make pretty large jumps on each renewal in my experience.

So, you're locked in at 2500 for one year. Rent may increase when you renew.

check this out - Fact Sheets describing the major elements of rent control and rent stabilization in New York City.
http://nysdhcr.gov/Rent/FactSheets/

elena
(broker)

I'm confused. Is this the first lease you are signing for this apartment or is it a renewal? The de-stabilization limit is $2,000. Unless this is a renewal, why wouldn't the landlord just de-stabilize this?

not all apartments are allowed to be destabilized. hence the TS problem in Stuy Town.

renogirl_in_doubt, jasonkyle is correct in theory. Joepa, the situation I believe renogirl_in_doubt is in, and please correct me if not, is she is renting in a newer building that was granted certain tax advantages in return for being stabilized, even above the $2000 threshold. As such the landlord must file with the city each year the "legal" rent in order to raise it to that level should the market bear the price in the future. However, I am not sure, and you should check BEFORE you sign the lease, if upon renewal they can raise it to the legal rent, or if since you are renewing and not a new tenant, they can only raise it by rent stabilization guidelines for that year. Hope that helps, DB

I'm sorry - you are correct aboutready. Assuming the apartment wasn't still regulated under another form of legislation such as J-51, it can be, though. Although I can be wrong, I was guessing that wasn't the situation here. Also, that is a new decision. Did Tischman get a stay of that ruling pending appeal? I'm not sure where that case stands.

joepa, the court of appeals granted TS leave to appeal. Stayed the ruling but required TS put up a bond for (I believe) $200M. TS has entered an agreement with plaintiffs' attorneys not to destabilize any current tenants' apartments until the oourt of appeals rules. i don't know the hearing date.