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Stormgal that is correct information for standard rent stabilized apts If and when your rent reaches above $2700 and your income is above $200K for 2 consecutive years the landlord can seek permission from DHCR to deregulate your apt.
In our case (250 ash) that isn't true. Our particular building is permanently affordable. In this building, You could win the lottery tomorrow and still remain in your rent stabilized apt. However the building can still ask for your financial info and I believe they will do it yearly but no matter how much we make from here on out we can still retain our lease. Manner in case you want to read all this for yourself its in the rider from HDC that is included in our lease.
So that all said you will have to check your lease to see if you have an additional rider from HDC that has the information above. I believe a lot of housing lottery buildings are like this not all but most.
7 continent welcome home!!
Thanks - I'll see you all mid march. I'll def ensure I have that HDC rider on my lease.
Storm - I'm jealous you got paid to get out.
Thanks - I'll see you all mid march. I'll def ensure I have that HDC rider on my lease. Storm - I'm jealous you got paid to get out.
I did - actually, will. My landlord had been sending me buy out letters once every year for two years now, so I finally called and asked him how much they'd give me for the lease buy-out. Can you believe they offered me five figures? I said, "OK!"
The plan is that when I leave the apartment empty, (on my own date) they will hand me two checks - the five figure one and the security deposit. They said that upon inspection of the apartment - if I don't get rid of my junk, they'll keep the security deposit. But, if I get rid of everything, they will hand me both checks.
By the way, I meant to tell everyone - if you live in a neighborhood that is going through gentrification and you have a rent stabilized lease - CALL your landlord!! They will offer you payment! (Just don't tell them you're moving). Every landlord is desperate to get rid of their rent stabilized or rent control tenants. Trust me when I tell you.
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I said, "OK!" 
Every landlord is desperate to get rid of their rent stabilized or rent control tenants. Trust me when I tell you.
