Making The Most Of New York City Preferential Rent Laws
Law360, New York (February 23, 2016, 12:00 PM EST) -- Are the “preferential rent” rules for rent stabilized apartments settled? The enforceability of discontinuing preferential rents and restoring the legal rent for rent stabilized apartments becomes more important should rent levels temporarily become flat, or even drop in certain neighborhood locations. How do the parties ensure that they both get the benefit of the bargain they make in preferential rent arrangements?
What Happens When Less Than the Maximum Legal Rent is Collected for Rent Stabilized Apartments?
Since first enacted in 1969, the New York City Rent Stabilization Law (RSL) and Code (RSC) have provided for limits on rent increases which can be...
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