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lease up, how much can they raise my rent

Started by scottnath
about 13 years ago
Posts: 0
Member since: Feb 2009
Discussion about
We live in a non-rent-stabilized apartment for $2400. The building just sold and our lease is up in February. Can they legally raise the rent to anything they want? thanks, Scott
Response by huntersburg
about 13 years ago
Posts: 11329
Member since: Nov 2010

Yes.

You have a lease for a certain period of time. Then you have no ongoing obligation to the landlord or the landlord to you. The landlord can kick you out and not offer you a new lease. You can choose to move out even if the landlord reduces the rent to zero. No obligations. But they could be interested, you could be interested, so there's a negotiation on price. They can't raise your rent because you don't have to stay - but they can propose a rent and you can accept it or reject it, or you can propose something lower and they can accept it or reject it.

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Response by bramstar
about 13 years ago
Posts: 1909
Member since: May 2008

>Can they legally raise the rent to anything they want?<

Yes.

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Response by csn
about 13 years ago
Posts: 450
Member since: Dec 2007

yes

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