A building owner in Manhattan purchased a rent-stabilized building and discovers that the previous owner never registered the apartments with DHCR and charged rents above the legal amounts. The current tenant has been paying $3,200 per month, but the legal rent should be $2,400. What is the most significant consequence for the new owner?
Correct Answer
C) The rent is frozen at the legal amount until proper DHCR registration is completed
Under New York law, when rent-stabilized apartments are not properly registered with DHCR, the rent is frozen at the last legal registered rent (or base date rent if never registered) until proper registration occurs. This creates significant financial consequences for building owners.
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A prospective tenant is viewing a rent-stabilized apartment in the Bronx. The current legal rent is $1,950 per month. What document should the landlord provide to demonstrate the apartment's rent stabilization status and legal rent history?
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