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Old 07-10-2017, 06:30 AM
 
1 posts, read 259 times
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I've found via my rent history that I may be paying too much in rent for a RS apartment in the LES.

My current RS rate puts me at or just under market value, so I'm comfortable with it, but it appears the actual rent should be about 70% lower. The small building was purchased 3 years ago, so the newer landlord likely wouldn't have been aware of the rent overage.

Let's say I did attempt to take the landlord to court for rent overage, and he decided to settle for a smaller amount. What would happen if a new tenant moved in, would they be forced to charge the lower rent? Did the newer landlord get screwed on this by the previous landlord? Does the newer landlord have any claim against the previous landlord?
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Old 07-10-2017, 04:58 PM
 
545 posts, read 217,708 times
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The newer landlord most likely knew darned well and was very happy to turn a blind eye. It's practically the most important determinant of value in NYC real estate! But the purchase agreement will probably have specified certain characteristics of the building and of the existing leases, probably including the rent-stabilization status of the apartments, and in theory a purchaser has recourse if representations in a contract are false. (I think, but am not sure, that you would have to sue the prior landlord for overages paid during previous leases.)

Yes, a new tenant would get the benefit of the rent stabilization. Pursue your case. Don't let these greedy bastards screw over not only you, but every tenant after you.
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