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My husband and I have just been offered a 1BR in Stuyvesant town. We’re trying to decide if we should accept the offer. I was doing some research on rent stabilization at Stuytown and I found out that many of the rent stabilized apartments were set to be de-regulated due to the expiration of the J-51 tax abatement. Does this apply to lottery apartments? Does anybody have more knowledge on rent stabilization at Stuytown?
We’re currently in a nice apartment with a decent landlord and we truly hate moving. If we move, we want to make sure we can live there for a really long time. Thank you!
Why don't you clarify this with the agent/landlord/lease? If someone here says "yes, it's rent stabilized for life" - will you just believe them and move?
Why don't you clarify this with the agent/landlord/lease? If someone here says "yes, it's rent stabilized for life" - will you just believe them and move?
She can definitely ask management but what’s wrong with her asking people here who might have knowledge on the subject? This is a forum, no?
For the Developers guideline handbook: All Affordable Units are subject to rent stabilization and tenants holding a lease and in occupancy upon expiration have the right to remain as rent stabilized tenants for the duration of their occupancy.
They all are and all have a contract for how long they will be. They do have to be renewed. The timing varies per building. It’s something you can ask when signing the lease (how long until their next re-newal with the city is)
It should be stated clearly in the lease. My friend’s lease (for a lottery apartment but not in Stuy Town) said the unit would be stabilized for 25 years. I don’t know what would happen after that.
You should be given a rider to sign during the lease signing to inform you about how long your apartment is rent-stabilized. It can be for 25 years, 35 years, or like my apartment, it's permanently rent-stabilized.
Location: Read the Marketing Handbook, and Income a Guide.
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Are all lottery apartments rent-stabilized indefinitely? I believe the answer is NO.
The question should be re-stated, Are all StuyTown lottery apartments rent-stabilized indefinitely?
The StuyTown lottery is unique in many ways as a result of a long history which includes lawsuits, settlements, agreements, and so on. This particular lottery if different.
Whatever might be posted here, potential tenants at StuyTown would be benefit by asking management, Are all StuyTown lottery apartments rent-stabilized indefinitely? And, getting shown in writing what the answer is.
Why don't you clarify this with the agent/landlord/lease? If someone here says "yes, it's rent stabilized for life" - will you just believe them and move?
We were just offered the apartment via email on Friday close to end of office hours so I don’t have anybody to ask at the moment since they don’t work on the weekends. I am considering all our options by doing my due diligence. If you didn’t like my question, you can choose to ignore it and move on. Perhaps try to lead with kindness…
You should be given a rider to sign during the lease signing to inform you about how long your apartment is rent-stabilized. It can be for 25 years, 35 years, or like my apartment, it's permanently rent-stabilized.
It should be stated clearly in the lease. My friend’s lease (for a lottery apartment but not in Stuy Town) said the unit would be stabilized for 25 years. I don’t know what would happen after that.
Thank you!
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Are all lottery apartments rent-stabilized indefinitely? I believe the answer is NO.
