rent stabilized buy outs

very much depends on the circumstances. How valuable is your apartment, how low is your rent, what's your demographic,etc.

There is really no "process"-Step 1:Landlord pays you. Step 2: you leave. Note order.

Nina,

flatironj is correct: there's no process. Ask the LL what he's offering & post it here or go to a lawyer (legal aid perhaps) & let them handle it. The buy out depends on the fair market value of a vacant apt, but, then you mention it's a ML, so, we's confused. Plus, you're elderly relative may need extra assistance. So, not clear cut n' dry. IMO, think you should seek professional. IMO, if you want to do right by your elderly relative, speak to an attorney.

nina,
it's simple math really - you've got to put yourself in the position of the owner. How much is that apartment worth to him?

Let's say the rent is $1,000 and the market rate he can get is $2,000 after $35,000 of renovations are done to it.

Then do the math - $12,000 of increased rent collections per year for 3 years equals the cost of renovations - what kind of payback period is reasonable today? If you're a landlord with $35,000 of cash available then are you willing to pay it out in expectations that you'll get your money back in 3 years. Maybe not - Landlords are getting crushed right now. Market rate rents are plummeting. Maybe that $2,000 rent now will be $1,800 by summer so it would take him 4 years to get his money back - maybe he doesn't have the $35K and wouldn't buy you out for any reason or maybe he has it now but is worried he won't have it in a year from now.

BUT let's say the rent is $1,500 and that after $10K of renovations he can get $3,000 in rent. Then do the math - how quickly can he get his money back? Are there other investments in real estate where you can get a better return - in other words would he be better off buying condos in Miami? Or would he get a better return in US equities - gold etc?
Anyway, that's how landlords view it.

This thread was double-posted and there were zillions of posts on the other one.

Jazzman/flatiron - nina's relative is in senior subsidized housing. The situation isn't cut and dried RS/RC or even ML.