Sunday, March 18, 2007

After an Apartment Is Deregulated ...

New York Times
March 18, 2007
Q & A
By JAY ROMANO
http://query.nytimes.com/gst/fullpage.html?res=9C0CE0DF1F31F93BA25750C0A9619C8B63&sec=&spon=&partner=permalink&exprod=permalink

Q If the renewal rent on a rent-stabilized apartment goes from below $2,000 to above $2,000, my income for the last two years was over $175,000 each year and my landlord takes all of the appropriate steps to destabilize the apartment, will I be allowed to live out the term of my new lease?

A Yes, with one exception. Sherwin Belkin, a Manhattan lawyer who represents landlords, said that if the Division of Housing and Community Renewal issues an order of deregulation, the order deregulates the apartment upon the expiration of the tenant's current lease.

"The one exception is where the owner renews the lease while a luxury deregulation petition is pending before D.H.C.R.," Mr. Belkin said. In such a case, he said, if the owner attaches a notice to the renewal lease advising the tenant of the pending proceeding, and an order of deregulation is issued, the lease can be terminated 60 days after the order is issued.

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