Anonymous
Anonymous asked in Business & FinanceRenting & Real Estate · 4 weeks ago

Should I move out or pay the increased rent?

I'm in NYC. I live in a rent-stabilized apt which I signed a year lease for. The lease ends in February and the management company just told me they may want to renovate the unit so it may not be available for me to renew the lease. Should I have to move out if they decide to renovate the unit? Also, they will charge me $350 more for the monthly rent if I renew my lease. They said the rent was low last year because the L train was still supposed to shut down, but now the rental market improved greatly and the ownership wants them to charge whatever the current market rents are on the renewal leases. Is this legal? What are my rights?

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  • 3 weeks ago

    They are allowed to raise the rent when you have rent control. The rent control laws regulate how much they can raise it and how often.  You have to check the specific rent control law for your area to see if the $350 is a legal amount or not. 

    Not renewing the lease may also be legal even under rent control. Again you have to check the specific law for your area to be sure. 

    They have the right to renovate at the end of your lease. 

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  • 3 weeks ago

    Yes it's legal.. both you or the landlord can determine not to renew a lease. You can't force them to allow you to live there, and they can't force you to stay.

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  • R2D4
    Lv 6
    3 weeks ago

    getn legal help

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  • 4 weeks ago

    Of course it is legal.  A landlord is NEVER obligated to renew your lease.  You should be thankful that you were given the option to re-rent the place after they renovate.  Why would they renovate if they couldn't raise the rent to reflect a nicer place?  Does that sound like a good business move to you?

    Source(s): Certified Paralegal, with 25+ years' experience & with Landlord & Tenant law experience.
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  • 4 weeks ago

    WARNING SOME PEOPLE ARE CLUELESS ABOUT RENT STABILiZATON LAWS...YES LANDLORDS ARE REQUIRED TO CONTINUE LEASES IN SOME AREAS (unless the tenant violates it)

    sounds fishy to me...like they are trying to trick you into ending your tenancy (by claiming renovations) so they can legally up the rent with you as a new tenant.

    renovating may be seen as constructive eviction.  and you can keep your lease even if you don't live there....you just wouldn't pay for the days that you can't live there.

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  • Judy
    Lv 7
    4 weeks ago

    You have no right to renew at any price if they want you out so they can renovate.

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  • keerok
    Lv 7
    4 weeks ago

    As I see it, it's legit. Your right, as far as I know, is to be the first in line to rent it the moment the unit is available and that holds true whether they actually renovated or not.

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  • Bort
    Lv 6
    4 weeks ago

    What they're doing is legal. Lease renewal can be denied by either party for any reason. A reason doesn't have to be given. They can also increase rent when it's not occupied and under a current lease agreement, so they can legally increase the rent after your lease expires. They're giving you opportunity to decide whether you want to stay or not. Be sure that if you decide to move out that you give notice in the time frame the lease requires you to if there's a notice to vacate term in the lease. Even if there isn't a notice to vacate term in the lease give them the courtesy of knowing what you've decided to do 30 days before the lease expires regardless of what your decision is.

    ...I guess you don't have 30 days to give now? Unless it ends at the end of February. Usually if a contract is dated to end it ends on the 1st of the month displayed unless it says specifically it's the end of that month.

    Read your lease. Make sure you do whatever you decide to do according to the lease to avoid any troubles.

  • Pearl
    Lv 7
    4 weeks ago

    thats up to you if you want to move out or not

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  • 4 weeks ago

    Once your lease expires, they can require you to sign a new lease or terminate your residency (which is what they will do if they want to renovate).

    That new lease can include a rent increase.

    If your lease includes the option to go month to month after the first year, you can still be given the required notice to terminate your tenancy (30 or 60 days, depending on where you live). In such a case as this, there may be local laws governing the amount of rent increase that can be implemented in a given period of time.

    Do some research if you want to stay in the same area and see what comparable properties are renting for. You can then decide if you want to stay and pay the increase or move.

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