Landlord Can Charge First Rent After Apartment Owner-Occupied
LVT Number: 12978
Landlord asked the DHCR what rent could be charged when a renovated rent-stabilized apartment was rented through 1992 at $700 per month and then became exempt as owner-occupied. In an opinion letter, the DHCR stated that if there was a period of temporary exemption lasting four years or more, landlord could thereafter charge a first rent, which would thereafter be subject to rent guidelines. If the first rent was $2,000 or more per month, the apartment would be considered deregulated under high-rent vacancy decontrol.
DHCR Opin. Ltr. by Charles Goldstein (10/14/98) [3-pg. doc.]