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Old 04-20-2012, 05:22 PM
 
Location: West Harlem
6,886 posts, read 7,854,642 times
Reputation: 3000

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Quote:
Originally Posted by Zamees View Post

I'm probabaly signing the lease tonight or tomorrow, and I was going to ask about the stabilization of the building, but now you've got me thinking I shouldn't mention it.
If you are indeed thinking, you will not mention anything about it at all.
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Old 04-22-2012, 12:08 AM
 
Location: Noo Yawk, Noo Yawk
624 posts, read 1,290,432 times
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Once you are a tenant, then you can request a rent history on your specific unit. They only send that to someone who can prove tenancy. They send you a print-out which shows all the increases since the apartment became stabilized. That is how you will know whether or not the increases were legal.
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Old 04-22-2012, 07:17 PM
 
2,503 posts, read 3,530,546 times
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Quote:
Originally Posted by citychik View Post
Once you are a tenant, then you can request a rent history on your specific unit. They only send that to someone who can prove tenancy. They send you a print-out which shows all the increases since the apartment became stabilized. That is how you will know whether or not the increases were legal.
Just know that the rent amounts you get from DHCR are not always 100% accurate as sometimes the rent amount doesn't reflect inbetween vacancies that make occur. Many times you can have an apartment that has had 2 vacancies within a year. So therefore there are 2 vacancy rent increases which makes it appear like there was an illegal big rent increase in one year. But in reality it isn't illegal.
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Old 04-22-2012, 07:46 PM
 
Location: Beautiful Pelham Parkway,The Bronx
8,395 posts, read 19,681,650 times
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Quote:
Originally Posted by Kefir King View Post
[b][i]
If you are paying $1800 and the PROPER rent is $900 (not uncommon) you will eventually get the difference back to when you moved in. It can take a LONG time but you will prevail....
Contrary to popular belief,this kind of discrepancy is not common at all anymore.
What is more common(especially outside of Manhattan) is for rent stabilized apartments to actually be renting for less than the legal maximum allowable rent because the "market rent"( what people are willing to pay) is lower than the legal stabilized rent.
Many thousands of stabilized tenants in NYC have both the stabilized rent and the "preferential rent" ,which is what the tenant actually pays,listed on the lease.
NYC Rent Guidelines Board
"A preferential rent is a rent which an owner agrees to charge that is lower than the legal regulated rent that the owner could lawfully collect.

Owners can decide to terminate the preferential rent and charge the higher legal regulated rent upon renewal of the lease or when that tenant permanently vacates the apartment ..."

The whole mystique around stabilized apartments and leases is pretty much outdated at this point .One of the reasons why rents have risen so dramatically in the last 2 years is because landlords in stabilized buildings have been allowed to raise the rents on apartments where there are lower "preferential " rents by more than the percentages allowed by the RGB because they can do so quite legally as long as they do it within 4 years of the beginning of the lease.
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Old 04-22-2012, 09:30 PM
 
2,503 posts, read 3,530,546 times
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Quote:
Originally Posted by bluedog2 View Post

The whole mystique around stabilized apartments and leases is pretty much outdated at this point .One of the reasons why rents have risen so dramatically in the last 2 years is because landlords in stabilized buildings have been allowed to raise the rents on apartments where there are lower "preferential " rents by more than the percentages allowed by the RGB because they can do so quite legally as long as they do it within 4 years of the beginning of the lease.
Rents haven't increased because of preferential rents. Remember that a preferential rent is another word for discounted rent. Sometimes landlords my initially list the rent $50 below market rate in order to entice prospective tenants and rent the apartment quicker. When the lease expires, the landlord can still charge a preferential rent but this time he may want to charge the actual market rate rent which requires a $50 increase which gives the illussion of an increase higher than the RGB guidelines but in reality it is on par with the current market value.
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