Real Estate Law
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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.
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