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Damien Bosco
Damien Bosco, Attorney
Category: Real Estate Law
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Have you ever heard of a landlord lowering rent for a tenant

Customer Question

Have you ever heard of a landlord lowering rent for a tenant in the middle of a lease in Manhattan?
Lease was signed in Feb this year and is "fair market" .
Now for Aug rent, it has been reduced by $125. Per month for rest of the lease. Management saying her unit is now rent stabilized
Submitted: 3 months ago.
Category: Real Estate Law
Expert:  Damien Bosco replied 3 months ago.

Hello. My name is***** am here to help you with your question. Sometimes rents are lowered usually due to an economic crisis such as the one in 2008. Many landlords lowered the rent in the middle of the lease because tenants lost jobs, downsized or the general market declined. Separately, it is unusual that an apartment becomes rent stabilized in a middle of a lease. Usually when the building becomes a rental unit is when the determination is whether the apartment is a rent stabilized apartment. The best way to know about the history of the apartment is to go to http://www.nycrgb.org to review the rules and possibly find out the history of the apartment by going to one of their locations to discuss it with one of their representatives.

Expert:  Damien Bosco replied 3 months ago.

Hello. Do you have any follow up questions? If so, please let me know. Thank you.

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