Offering Preferential Rent with One-Year Renewal Only
LVT Number: 18013
Landlord collected a preferential rent from tenant under rent-stabilized lease. Landlord asked the DHCR if it could offer tenant a renewal lease under the following terms. If tenant chose a one-year renewal, the new rent would be based on the preferential rent. But if tenant chose a two-year renewal, the new rent would be based on the legal regulated rent. In an opinion letter, the DHCR said yes. Nothing in the Rent Stabilization Law barred landlord from offering tenant a preferential rent only if he chose a one-year renewal lease.
DHCR Opin. Ltr. by Michael B. Rosenblatt (10/25/04) [3-pg. doc.]
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