Rental Basics in New York>Question Details

Renee, Home Buyer in Montauk, NY

Stabilization rider, but above $2000?

Asked by Renee, Montauk, NY Mon Jan 12, 2009

I signed a 1-year lease for my apartment in April of 2008. Prior to my tenancy, it had been stabilized with a rent of $800. They gut renovated, did the legal calculations, and raised the rent to $2200. My lease has a “Rent Stabilization Lease Rider” attached to it that shows the guidelines and calculations.

As I wait for my renewal lease, my question is…is my apartment still stabilized?

Our building is on the city’s stabilization list. We have not gotten any notice of deregulation.
I'm confused because at $2200 I'd assume it's not regulated, but the rider attached to the lease implies that it is.

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Answers

2
That is odd you have not received a notice about deregulation. At $2200 it definately sounds like they have migrated to deregulated leases and likely will come up at your next lease signing. As far as I know they can change to deregulated leasing at anytime after your lease ends, but have to give notice before or during lease resigning. I highly recommend contacting landlord asap to see what your options are.
0 votes Thank Flag Link Wed Jul 13, 2011
THis is most likely to document that the unit is no longer stabilized, it is providing the detail of how the rent was calculated to be over $2000, I got one years ago when I rented a unit coming off stabilization.
0 votes Thank Flag Link Mon Feb 16, 2009
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