Rent-stabilized apt, Q about "legal rent" v. "preferential rent" (leases, tenants)

[BinxBolling]

hilltopjay might be surprised to learn that there's a lot of theoretical overlap between Smith and Marx, if he read them.

[Harlem resident]

Originally Posted by hilltopjay

Such a socialist view. Ok fine. So if the free market is evil, what alternate business environment do you suggest? Communism?

It is always fiscal and political conservatives who think in such extremes. Either-or.

It is my sense that the solutions of the future will involve drawing on a number of different, perhaps previously deemed fatally contradicted, ideas.

Few Americans have any real understanding of what actual Socialism might be - most notably, recently, the majority of the "Occupy Wall Street" types.

[Harlem resident]

Originally Posted by BinxBolling

hilltopjay might be surprised to learn that there's a lot of theoretical overlap between Smith and Marx, if he read them.

Teaching Marx to university freshman is a comic experience. Most of them are terrified.
Not at the better schools, but everywhere else.

[Kefir King]

Originally Posted by Harlem resident

Teaching Marx to university freshman is a comic experience. Most of them are terrified.
Not at the better schools, but everywhere else.

They are probably afraid that the CIA is beginning a dossier on all of them...thing is, they are probably right.

[BlakeJones]

Originally Posted by Kefir King

The purpose of rent stabilization is to protect tenants from caprisious landlords.
We as a society have determined that disruptions in tenants lives by having to move against their will is too high a price for landlords to raise prices as they please and to withhold lease renewals because tenants aren't repsectful enough, the right color, too stupid, too smart or any number of other silly criteria.
The rent stabilization system puts landlords and tenants on more of an even keel even if it diminishes the LORD part of landlord.

Rent Stabilization is actually exactly for what it's called - stabilization. The goal is to maintain an orderly movement of rent, supposedly adjusted for inflation and annual cost, and to stabilize neighborhoods by reducing turnover and assisting the mix of people so that it's not 100% bankers and lawyers living in NYC. A noble goal, but it raises the cost of living for everyone else who can't land a stabilized apartment.

[crimson light]

I moved in my rent stabilized building in May 2014. My rent is 1,110.00 for 1 bedroom. A lot of crazy things are going on i hear fr other tenants. My apartment has terrible mold in bathroom and possible lead. My neighbor just showed me court papers about being going into for closure. The tenants are listed on there. My name is not listed but the previous tenant name is on there. Why isnt my apartment registered? How do i find out if they are charging me too much rent? Help please. Thank you in advance.

[building130]

i live in a rent stabilized building- my neighbor just told me his rent went up $ 700 and he claims he is rent stabilized with a preferential rent is this possible to be rent stabilized with such a high increase

[Harlem resident]

There are thousands of resources for New York tenants - research them.

You can also call Met Council on Housing, and/or start by going to their website.

There have been many discussions here, if you search for them ...

[Henna]

Originally Posted by building130

i live in a rent stabilized building- my neighbor just told me his rent went up $ 700 and he claims he is rent stabilized with a preferential rent is this possible to be rent stabilized with such a high increase

Yes, provided the LEGAL RENT (not the preferential rent) is not being exceeded. He should read his lease. There should be an amount for the legal rent and another amount for the preferential rent. When his lease is renewed, they can't raise it above the legal rent. This is my understanding as a layperson; I am not an expert. You should do as Harlem Res says and read tenant info online at sites that specialize in these things.

[allpro123]

Originally Posted by building130

i live in a rent stabilized building- my neighbor just told me his rent went up $ 700 and he claims he is rent stabilized with a preferential rent is this possible to be rent stabilized with such a high increase

Yes the landlord can raise your tenant's rent $700 assuming your neighbor has a lower preferential rent.

For example: Your neighbor pays a preferential rent of $1,000 with a legal regulated rent of $2,200. When your neighbor's lease expires, the landlord has the legal right to charge your neighbor $2,200 or any number below the $2,200. So say the landlord offered your neighbor a new rent of $1,700, there's your $700 rent increase as the landlord in entitled to collect it.

Yes, you can snoop around with DHCR to confirm the legal rent is legit but the landlord will get wind of you snooping around. If the legal rent turns out to be legit, expect your next renewal lease to have no discount and at legal rent. In other words, start looking for another apartment. Damned if you do, damned if don't.