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Real Estate & Property Law

: New York City Landlord Tenant News

Q & A; Luxury Deregulation: Determining Income

By By JAY ROMANO

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QWe live in a rent-stabilized apartment. By 2010, the rent will exceed $2,000 a month. (In January, when our renewal lease goes into effect, the rent will be $1,980.) Since tenants' adjusted gross income must exceed $175,000 for two consecutive years for an apartment renting for more than $2,000 to be deregulated, my question is: Which two years are considered? Will they be 2008 and 2009, or 2007 and 2008?

Full post as published by New York City Landlord Tenant News on January 17, 2008 (boomark / email).

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