After Owner Occupancy in RS...
The past week has had a couple interesting, opinion-prevoking questions regarding owner occupancy in a rent stabilized building. These made me wonder, if a landlord did legally and genuinely take over an apartment for owner occupancy and live in it for a few years, what happens to the status of the apt if they were…
The past week has had a couple interesting, opinion-prevoking questions regarding owner occupancy in a rent stabilized building. These made me wonder, if a landlord did legally and genuinely take over an apartment for owner occupancy and live in it for a few years, what happens to the status of the apt if they were to move out? I would assume it isn’t automatically destabilized, but was wondering what happens next? Does it continue with the same stabilized rent as before the owner occupied it? This topic doesn’t seem to be mentioned on the DHCR site. Anyone know?
If a building owner takes over a RS/RC apartment and lives in it for the requisite time (3 years) the apartment is then decontrolled/destabilized. Meaning once the owner moves out that unit is rented for whatever the owner wants to list it for, and what the market will bear.
If you buy a building and a RS tenant moves once you take ownership (but not residence in the unit), that unit would be subject to the standard percentage bump as well as any capital improvement bumps, vacancy bumps etc.
Once a RS or RC apartment becomes de-stabilized or de-controlled it is free market forever. You get to charge what you want/what the market will bear.
I see how it could have been confusing- apologies, Vinca. I was putting out both my situation and, as I mentioned, the situation of a recent poster who was considering taking the eviction route. I should have been clearer and simply cited my own situation.
Yanks21: Did your 1:49 post not begin by saying “but my question is if the owner legally goes about evicting…â€? Neither this, nor your previous, the inquiries of Kensingtonka’s “representative of the ‘protected’ class.” It’s always amusing to see refutations of “confusion†with very different details than those previously posted. You think maybe you’d get better answers if your original post was specific?
Bxgrl, I know you meant well, but I tend to stay away from posts like these.
My personal policy: I don’t help tenants scam owners; I don’t help owners screw tenants; I try to stay clear of posts conveying a whiff of hidden agenda.
Good luck with your purchase, yanks. Get yourself a good attorney.
Actually, something is stopping me from giving OP advice: I don’t have anything valuable to add.
My point, however, is this: almost every day someone is asking a question here related to construction/home maintenance. Often professional contractors comment and suggest solutions or at least a course to proceed. But not a single one of them has ever posted something along the lines “if you are dedicated to ownership of old historic buildings, embrace the full “pleasure” of the experience including swimming in your own shit or pay for an advice of an experienced plumber”.
I am sure, as a defender of the downtrodden, you want to make the world a better place – let’s start with this forum.
To clear up the confusion, I was looking at a building that stated that one of the three RS apartments would be delivered vacant at closing as the current tenant was MOVING out- not being evicted, not taken to court, not thrown out on the street. It is possible for someone living in a rent stabilized apartment to move out- not all are in it for life.
Thanks, Kensingtonka, for giving my post the benefit of the doubt.
Kensingtonka: take a look at yanks21 previous posts…I did. You’ll notice a certain history. Nothing stopping you from giving OP advice; please do. BTW, consulting a knowledgeable attorney will be the best advice s/he will ever get.
Vinca, and you insulted the OP because?
The way the question is phrased, the OP may be a representative of the “protected” class who thinks he just discovered an RS apartment that was taken by an owner, and he is eager to rent at discount.
Now, go ahead, express your disdain for scheming bottom- fishers.
Vinca’s best answer to your question: stop fishing in public forums for cheap answers to your conflict-ridden purchase schemes. If you’re dedicated to buying at discount, and making yourself comfortable while throwing others out on their ears, embrace the full “pleasure” of the experience, including the expense of legal advice.
OP here… I understand that part, but my question is if the owner legally goes about evicting or even just moves in after a tenant leaves and lives there for 3 or more years, what happens after the owner moves out? Back to RS, I assume? How do you figure the rent or does it just resort back to the last tenant plus the vacancy increase? So my question is not about gaining the apartment for the owner, but what happens to it after the owner moves out.