Legal Question in Real Estate Law in New York
Rental increase
I have not raised rent on my tenant/friend in the past two years as she has been going through hard times. It is time to raise the rent as I also pay for oil to heat the apartment. Is there a limit on the amount that I can raise the rent?
Asked on 5/04/08, 10:19 am
1 Answer from Attorneys
Michael Markowitz
Michael A. Markowitz, PC
Re: Rental increase
Assuming the apartment is not subject to any rent control laws, and assuming that you are presently not bound by a written contract (the tenant is a month to month tenant), there is no limit on the amount that you can raise the rent.
Mike.
Answered on 5/05/08, 8:26 am
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