Legal Question in Real Estate Law in New York
Rent Increase
Is there a limit on how much you can increase the rent on a one family house in New York City. The rent has not been increased in 6 years and would we like to increase it to the market rate, which would be from $1,200 to $1,800?
Asked on 12/16/00, 3:21 pm
1 Answer from Attorneys
Michael Markowitz
Michael A. Markowitz, PC
Re: Rent Increase
Assuming that a written lease is not in effect, and the tenants are month to month, a full month notice must be served on the tenants giving notice for the increase in the rent for the following month.
If a written lease exists, the parties must follow the terms of the lease.
Mike.
Answered on 12/22/00, 12:39 pm
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