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Brandy Walle…, Home Buyer in Huntington, NY

My apt. building just sold, and the new Landlord has hinted at raising the rent. I am a long term tenant. Is there a cap on how much he can raise?

Asked by Brandy Walleshauser, Huntington, NY Tue Dec 24, 2013

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It's not that simple. You need to look at your lease and see if there are any clauses relating to the sale of the building. You also need to know if the place is rent stabilized (or if it should be). I'd honestly suggest going to see an attorney with a copy of the lease and see what they think. There may be some ways to negotiate with the Landlord now to see if you can't secure a better deal. Hope this helps!
0 votes Thank Flag Link Mon Dec 30, 2013
Check your lease. If it is an open market lease your rent can be raised. If it's stabilized it can only go up what the rent regulations allow.

Enjoy the holidays.
0 votes Thank Flag Link Tue Dec 24, 2013
I have a lease and know he can't raise it while my lease is valid. I am nervous though as I found this place cheap, but he is complaining that it is way under market value. He has already raised the building next door by $500.
0 votes Thank Flag Link Tue Dec 24, 2013
when your lease expires he is allowed to raise your rent.
It sounds as if your unit is a regulated unit so it can only go up the regulated increase.
Still cheaper than open market rents.
Pay it and be thankful you found the place.
If he is a good landlord and takes care of problems when they arise, then count yourself lucky. Some landlords let their buildings go as long as they can just waiting for the rents to come in so they can repair them and hoping that the tenant moves out for the next person to pay a premium under the table for the privilege of renting a controlled unit..
Flag Wed Dec 25, 2013
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