Rents of Studio Apartments Used as Comparables
LVT Number: 17478
Tenant filed a fair market rent appeal. The DRA ruled for tenant, reduced the initial stabilized rent from $830 to $556, and ordered landlord to refund $13,000. Landlord appealed, claiming that the DRA didn't use comparability data it submitted in determining the fair market rent. Tenant argued that one of the apartments landlord wanted to use as a comparable had been converted from a studio to a one-bedroom apartment. Landlord pointed out that there were a number of other studio apartments in the building that rented for higher rents when tenant moved in. The DHCR accepted these as comparables. On recalculation, the fair market rent was greater than $830. So tenant's complaint was dismissed.
Wembly Mgmt. Co., Inc.: DHCR Adm. Rev. Dckt. No. OH410023RP (5/25/04) [5-pg. doc.]