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I am currently subletting an apt. I own. Are there guidelines for what the rent increases can be? Thank you.
Join the Conversation Comments (2)If you are in a co-op or condo, and there are no special clauses about subtenant rent increases in your proprietary lease or other governing documents, and you did not purchase your apartment with any NYC rent stabilization or rent control entitlements, there should not be any limits on how much you can increase the rent. Your sublet is market rate and can be as much as the market in your area can bear. You might ask a realtor who specializes in market rate rentals in your area what the going rate is for an apartment with the same characteristics as your's.
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visit habitat uHabitat U: learn about how to manage a building, and what you should know as a co-op or condo board member.
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learn moreLearn all the basics of NYC co-op and condo management, with straight talk from heavy hitters in the field of co-op or condo apartments
Professionals in some of the key fields of co-op and condo board governance and building management answer common questions in their areas of expertise
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I assume you are in New York? Here is a great link that will answer your question http://www.nycrgb.org/ or simply dial New York 311 and speak to someone.
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