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Indeed, Henna's info is good (sorry my links don't work yet..,I guess there's a wait because I'm "new" (longtime lurker
Assuming the landlord accepts and cashes the $1225, I wouldn't give it much more thought (but you still should pursue getting the formal lease). Again, don't forget to send Aug rent via certified mail. That's important for a number of reasons.
You should also get your rent history from the DHCR. "Preferential" rent is always problematic and frequently the most widely abused by landlords.
You might want to read the Met Council website on preferential rents. Read it all the way through. There is some fraud some LL's are pulling having to do with preferential and legal rents, so you might want to follow the instructions on how to investigate. Preferential Rents | Metropolitan Council on Housing
Also, wouldn't hurt to call Met Council's hotline for advice on your situation.
Exactly. Many people think that most "preferential rents" are landlord frauds, which they justify by claiming that rent regulation is illegal. I read the propagandistic comments on this subject here with great amusement.
I would urge anyone at all paying a "preferential rent" to investigate said rent very carefully.
Exactly. Many people think that most "preferential rents" are landlord frauds, which they justify by claiming that rent regulation is illegal. I read the propagandistic comments on this subject here with great amusement.
I would urge anyone at all paying a "preferential rent" to investigate said rent very carefully.
Haha. Agreed. "$100+ isn't too much! Just do it and stop complaining!"...says a real estate agent getting kickbacks from the tenant and landlord
Assuming the preferential rent and legal rent are legit, you are just going to have to suck it up. The new preferential rent of $1,325 is in line with market conditions in the Bronx. Especially in Bedford Park which is a pretty good neighborhood from a Bronx standard.
Yeah, sure you can find a cheaper apartment in the Bronx but chances are you will have degenerates as neighbors which will affect your quality of life. At the end of the day, you get what you pay for. Pick your poison.
If the LL submitted your renewal lease say 60 days before your expiration date as oppose to 90 days, worst case scenario for the LL is that the housing judge orders the rent increase be delayed by 1 month.
"Assuming the preferential rent and legal rent are legit" is precisely why the rent is too damn high citywide.
Don't assume anything just because the landlord says x,y,z. In stabilization, for better or worse, that's why there are specific rules, regulations, and laws. More often than not, a landlord assumes you'll never do the work required to understand your rights. All DHCR fact sheets and forms are online. Read 'em and rage against the machine
In addition to the other things you are doing on this Amila, I would quickly look around your neighborhood, and get an idea on market rent. Maybe you are better off doing a move in the next 10 days.
As someone said here, the reason you can get a preferential rent is that the LL cannot get the legal rent because on one will pay it. Market rent is what it's all about. Do your research and make the best decision you can. Paying an extra $100 may still be a good idea, but I would still fight to the bitter end. The landlords really don't want to end up in housing court, particularly when they are just trying to bully you.
If you find that there are available units in the $1,225 range, not in the $1,325 range, use that as a negotiating tool with the LL. They can jack the rent on new tenants, IF SOMEONE WILL PAY IT, as they are allowed to do this under the RS rules. But MARKET RENT, is what is driving the train on how much tenants are willing to pay. Most new tenants are coming from other areas and any rent is higher than what they are used to, especially in the price range you are discussing. So they will be calling on every sign and avoiding using a broker on a non fee paid listing.
Good luck. Stay strong. Keep emotions out of it. It's just business. Even if the LL is a lying ****, don't call her that. LOL
In addition to the other things you are doing on this Amila, I would quickly look around your neighborhood, and get an idea on market rent. Maybe you are better off doing a move in the next 10 days.
As someone said here, the reason you can get a preferential rent is that the LL cannot get the legal rent because on one will pay it. Market rent is what it's all about. Do your research and make the best decision you can. Paying an extra $100 may still be a good idea, but I would still fight to the bitter end. The landlords really don't want to end up in housing court, particularly when they are just trying to bully you.
Gee, wonder how that got to be the "legal" rent ... let me see ...
Oh, that's right. Landlords submit paperwork attesting to significant rehabs (without building permits but that's a different department).
Without any sort of inspection, DHCR then uses the landlord-supplied paperwork to set the new rent. While setting the new rent, DHCR would NEVER check into any of the oddities about a given rent history. That just wouldn't be right. Landlords wouldn't be dishonest about this. Would they ? Tell me it isn't true.
It is quite literally an honor system - nobody ever checks that the renovations were in fact made and nobody will check until a tenant becomes suspicious about his or her "preferential rent" and initiates inquiries.
Gee, wonder how that got to be the "legal" rent ... let me see ...
Oh, that's right. Landlords submit paperwork attesting to significant rehabs (without building permits but that's a different department).
Without any sort of inspection, DHCR then uses the landlord-supplied paperwork to set the new rent. While setting the new rent, DHCR would NEVER check into any of the oddities about a given rent history. That just wouldn't be right. Landlords wouldn't be dishonest about this. Would they ? Tell me it isn't true.
It is quite literally an honor system - nobody ever checks that the renovations were in fact made and nobody will check until a tenant becomes suspicious about his or her "preferential rent" and initiates inquiries.
But you fail to realize that gut renovating an apartment is NOT the only way the legal rent goes up.
You can have an ugly, non-renovated apartment with a $2,300 legal rent but the tenant is charged a discounted preferential rent of $1,200. The reason the legal rent is so high is because the history of turn over in that apartment is high. Every turn over you can tack on an additional 17%-20% to the legal rent.
If that apartment experiences say 3 turn overs in 3 years, thats roughly a 60% increase to the legal rent from 3 years ago, compounded. If you did the math, you can see how a RS apartment can have a legal rent of $2,300 but the tenant is charged less via a preferential rent.
But you fail to realize that gut renovating an apartment is NOT the only way the legal rent goes up.
You can have an ugly, non-renovated apartment with a $2,300 legal rent but the tenant is charged a discounted preferential rent of $1,200. The reason the legal rent is so high is because the history of turn over in that apartment is high. Every turn over you can tack on an additional 17%-20% to the legal rent.
If that apartment experiences say 3 turn overs in 3 years, thats roughly a 60% increase to the legal rent from 3 years ago, compounded. If you did the math, you can see how a RS apartment can have a legal rent of $2,300 but the tenant is charged less via a preferential rent.
In fact, I have observed this.
However - first, this example should not be marshaled to dissuade people from checking. It will all come out in the end as they say.
Second, increases by claiming major rehabs is vastly and comprehensively more common - as is well known.
Agree.
Moreover, all of this is relatively irrelevant in the case at hand for two reasons:
1. The orig lease likely states that preferential rent shall remain in effect for the duration of the tenancy OR the orig lease says nothing about how long preferential rent shall remain in effect in which case the lease defaults to preferential rent remaing in effect for the duration of the tenancy
2. The landlord failed supply/notify/ execute the lease under the same terms within the not more than 150days not less than 90day mark. (Hence my suggestion to file the DHCR RA90- though I know it'll take the DCHR ages to "help")
Amilia, I hope you update us! Curious how it turns out
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