Leases With Rent Increase May Follow Aid For Some In NYC
By Emma Whitford (April 21, 2022, 4:55 PM EDT) -- New York City trade groups say certain landlords who accept federal rent aid can issue lease renewals with an increase so long as they don't charge that higher rent for a set period, ensuring that future increases are not pegged to a lower, frozen rent.
Attorneys for both the Rent Stabilization Association and Community Housing Improvement Program told Law360 that they have been counseling the owners of rent-stabilized buildings on this lease policy for months, which they believe complies with a state law requiring a 12-month rent freeze after landlords accept federal assistance.
According to the groups, rent-stabilized landlords who accept...
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