Quote:
Originally Posted by Waterlinesquare
Exactly, they are shady etc for not stating that part on my lease.
"You need to find out exactly which flavor of 421-a governs your current building "
Thank you so much , sorry do you mind explaining what that means ? "Flavor " is that a typo?
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(Yes, they could be being “shady” about it. But also, they might be ignorant of what type of 421 is in place. And perhaps don’t want to admit it. You need to seek the person or office that has the correct answers. Ask for a referral to an office or person that might be knowledgeable. The people that collect the rent and manage the building day to day might not know anything thing about it. I could believe this easily if the 421 expiration is several years away.
We understand how the 421 details are very important to you and your future. For the management if the 421 expiration is years away it’s just not important to them in the near term, and it doesn’t matter much because they can’t change the circumstances. They will begin thinking about crossing that 421 bridge when it’s near on their horizon.
Perhaps off-site financial people are thinking about the future of 421 there, for example if ownership is thinking about selling the building they want to consider what rent revenue would be in the decades to come.
You will be better served digging for the 421 details yourself. Try calling 311. Someplace in the government this is written down. They didn’t just make the deal on a handshake. I suppose this answer will take time to get.
If you like where you live and want to stay you should get these 421 details. It might take several attempts in different places to learn the facts. Many people might not have a clue and you should not rely on guesses.
Speculation: It’s not entirely far fetched that a legislative intervention could happen. The government might pass a regulation allowing them to offer a deal to extend affordable rents in exchange for tax breaks, perhaps carve outs for senior citizens and disabled people. Of course, this is only a hypothetical, and an optional one at that.
Take notes on the responses you get. Good luck and good patience.)
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Ask knowledgeable people
lol .
