Legal Question in Tax Law in New York

Preferred Rent

I formerly paid ''preferred rent'' on my apartment until last year when rental laws changed allowing my landlord to up it to the 'actual' rent. I have since heard that if there is a clause in my original lease that states for thje length of my tenancy I will pay preferred rent I should still be paying that figure. There IS a clause stating that in my original lease. However a few clauses down there is a contradictory clause stating basically that if the law changes they can change rent. Where do I stand? Also there is a clause saying I agree to pay ''late fees'' if I my rent is late but I have been told that late fees are illegal regardless of whether they are in lease. Thanks


Asked on 4/04/06, 5:48 pm

1 Answer from Attorneys
Walter LeVine Walter D. LeVine, Esq.

Re: Preferred Rent

I interpret the language, which I have not seen, as allowing you to pay the preferred rent as long as there are no changes, and that, if there are changes, the changes control. To my knowledge, reasonable late fees are legal. This response is not intended to create an attorney-client relationship, but is merely a response to an Internet question.

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Answered on 4/05/06, 11:14 am


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