Landlord Properly Set Initial Rent-Stabilized Rent
LVT Number: #29933
Tenant complained of rent overcharge. His monthly rent was $1,720.80. The DRA ruled against tenant, who appealed and lost. The building was newly constructed, and tenant was the first tenant to move into the apartment. Under a regulatory agreement with HPD, landlord agreed to charge 90 percent of the unit's fair market rent. So, the rent of $1,720.80 charged by landlord and affirmed by Section 8 became the legal regulated rent. Tenant claimed that he won a Low-Income Housing Tax Credit lottery for the apartment at a rent of $1,127.
Mbow: DHCR Adm. Rev. Docket No. GM410029RT (12/12/18) [2-pg. doc.]