preferential rent question
  • I am about to renew my lease soon. I noticed that I have been paying the "preferential" rent rather than the so called "actual" rent. Can the landlord just arbitrarily start asking me for the actual rent even if I sign the new lease for the preferential rent. Is there a way I can lock in the preferential rent
  • When you renewed your lease, was there a rider attached to it stating the amount for the preferential rent? If you have this in writing, attached to your lease, then they cannot raise your rent for that lease year; however, if nothing is in writing, then I suspect legally they can. Try to ensure you have the rider in writing, signed and dated by you and the landlord.
  • Q1: Can the landlord just arbitrarily start asking me for the actual rent even if I sign the new lease for the preferential rent?

    No. If you sign a lease stating you will pay a given price, that is the rate you pay for the duration of the lease. The landlord can not increase the rent during the lease period.

    Q2: Is there a way I can lock in the preferential rent?

    Um, how long is your definition of lock in? If he chose to, he could give you two year lease at a preferential rate. It is a little complicated because he is obligated to give you up to a two year lease if you request it, but he is not required to do so at a preferential rate.

    Note I assume you are using the term "actual rent" to mean the same thing as "maximum legal rent". Here's more advice from people who answer such questions full time:

    http://metcouncilonhousing.org/help_and_answers/preferential_rents

    They point out that their are some circumstances which may lock in a preferential rate, but that they are unusual.
  • Esperanza said:

    When you renewed your lease, was there a rider attached to it stating the amount for the preferential rent? If you have this in writing, attached to your lease, then they cannot raise your rent for that lease year; however, if nothing is in writing, then I suspect legally they can. Try to ensure you have the rider in writing, signed and dated by you and the landlord.



    Hi and thanks for the reply. Its not in a rider its in the actual lease.
    So at least I know for the next two years its not going to be 2000 a month. But I guess for the next lease its up in the air.
  • whynot_31 said:

    Q1: Can the landlord just arbitrarily start asking me for the actual rent even if I sign the new lease for the preferential rent?

    No. If you sign a lease stating you will pay a given price, that is the rate you pay for the duration of the lease. The landlord can not increase the rent during the lease period.

    Q2: Is there a way I can lock in the preferential rent?

    Um, how long is your definition of lock in? If he chose to, he could give you two year lease at a preferential rate. It is a little complicated because he is obligated to give you up to a two year lease if you request it, but he is not required to do so at a preferential rate.

    Note I assume you are using the term "actual rent" to mean the same thing as "maximum legal rent". Here's more advice from people who answer such questions full time:

    http://metcouncilonhousing.org/help_and_answers/preferential_rents

    They point out that their are some circumstances which may lock in a preferential rate, but that they are unusual.



    why_not My hero. How are you?
    Thank you for the information and link. I was hoping that I could remain with the preferential rent rate though out each lease, but from what you are saying every two years when I wait for the new lease to sign I have to worry about whether it will be the 2000+ rent or the rent I can afford

  • Yup.

    You should also hope that the building is not sold.

  • Well, it's good you have it in writing. I had to badger a landlord each year for it, or they would give me market rate. This was for an apartment in the Bronx. Hahaha.