What does a 'New Legal Rent' increase mean on my rent stabilized le...

What does a 'New Legal Rent' increase mean on my rent stabilized lease renewal form in New York?

Logement il y a 6h 2 answers • tatiana_lima

I'm reviewing my lease renewal form for my high-rise apartment in New York. The lease expires at the end of November and my current rent is $X. The form shows a 'New Legal Rent' of $X+Y, but the 'Tenant's Response to Owner' section still lists my current rent as $X. The 'Additional Deposit Required' section says $0.00 and lists my current rent as $X. Is this because of the rent freeze?

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2 Answers

Kevin J • il y a 5h

When you review the form, make sure it mentions rent stabilized, as high-rise buildings don't always guarantee it. If the freeze wasn't in place, they'd show you the increase, but you wouldn't have to pay it.

Paola M • il y a 3h

Your rent increase is based on the preferential rent, which is the lower amount you're currently paying. The legal rent is the maximum they can charge when your tenancy changes. Due to the rent freeze, your rent won't increase.

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What does a 'New Legal Rent' increase mean on my rent stabilized lease renewal form in New York?