Removing Rent Stabilization?
Hello, I purchased a Brownstone a few years ago that has ten units including my own. I rent the nine (Class B) on the upper floors while living in the only Class A, but it is an absolute nightmare. They are all SROs and the building is Rent Stabilized. I finally acquired a Certificate of…
Hello, I purchased a Brownstone a few years ago that has ten units including my own. I rent the nine (Class B) on the upper floors while living in the only Class A, but it is an absolute nightmare. They are all SROs and the building is Rent Stabilized. I finally acquired a Certificate of Non Harassment a while ago after an epic battle with HPD. However, ever since the beginning it has been a constant war with my tenants who are impossible to evict with the regulations, and I am tired of the struggle. What I am looking for desperately is someone who can tell me how to remove Rent Stabilization. I see from the definition that it applies to buildings built between 1947 and 1974 and that have “six units or more”, and I was wondering if I were to convert the nine units that I rent down to five or less, would that remove the Rent Stabilization? If not, is there another way? Someone please help! Thank you.
I still want to know what the purchase price was and what the rent rolls are.
ok,
I just looked it up,
seems that a Cert. of Non-Harassment is also needed when the landlord wants to do any changes to the property.
so, looks like BAHill15 got the certificate to make changes but still has tenants.
In that case, my advice is that
this battle has just begun.
I don’t see how you will get 9 tenants to agree
on anything, especially increasing their rent.
beson, I’m not sure I agree, people just don’t understand the peculiar laws protecting tenants -and especially SRO’s- in NYS. They have read that someone managed to “kick out” tenants somewhere in order to convert the house for their own occupancy and think: that makes sense, that’s the way around the law.
In reality, there is no way around the law. Your tenant can be crazy, a firebug, a hoarder, a deadbeat, and they are still protected to the fullest extent of the law.
wait a minute,
we need some clarification.
The original posting stated that a Certificate of Non-Harassment had been obtained.
I believe this means that the tenants have been removed
and that they signed off legally.
BAHill15, please clarify,
is this property now without tenants?
I always wondered if converting an SRO to a B&B or more deluxe residential hotel would qualify as the same definition? I a not suggesting this as a solution, but I wonder if anyone knows the particulars. I presume if it was possible, there’d be a ton of little hotels everywhere.
Yeah, but Legion, you cannot combine units until you empty them, and there are relatively few ways to do that. Listed above are personal use, lease buy-outs, and hitting the deregulation rent, the last of which also requires the tenant to have earned over $175,000 for two years in a row–highly unlikely in an SRO.
I am really trying hard not to judge, but you might as well group me with DIBS, dh and BoD.
quote:
I believe an apartment becomes de-regulated once it hits a certain rental value. $2,400 per month pops into my head for some reason.
it used to be 2000, now it’s 3000!!! you know, cuz people paying 3000 dollars for an apartment need rental protection :-/
*rob*
This post can’t be for real.
Methinks that Mr. B has a slow news day, and needed something to spice up the action.
I am always surprised at how naive people are about rent regulations in New York State. The law is Draconian and in some ways incompatible with how most Americans feel about private property. But nonetheless it is the law of the land and you can go to jail much sooner than one of your tenants can be evicted. It is almost unheard of that a tenant is displaced involuntarily. It always involves at least some buy-out and an agreement to move -no matter what you may read on the blogs.