Preferential Rent Continued Upon Lease Renewal

August 31, 2007

LVT Number: #19815

Landlord sued rent-stabilized tenant, claiming that tenant was no longer entitled to a preferential rent upon lease renewal. Landlord relied on a Rent Stabilization Code provision permitting landlord to renew at either preferential rent or higher legal regulated rent. The Code gave landlord the choice. The court ruled against landlord. Landlord appealed and lost. The preferential rent rider attached to tenant's lease specifically stated that the preferential rent would continue for the duration of the tenancy. Landlord was bound by this agreement.

Landlord sued rent-stabilized tenant, claiming that tenant was no longer entitled to a preferential rent upon lease renewal. Landlord relied on a Rent Stabilization Code provision permitting landlord to renew at either preferential rent or higher legal regulated rent. The Code gave landlord the choice. The court ruled against landlord. Landlord appealed and lost. The preferential rent rider attached to tenant's lease specifically stated that the preferential rent would continue for the duration of the tenancy. Landlord was bound by this agreement.

United West, LLC v. Margulies: NYLJ, 8/1/07, p. 35, col. 1 (App. T. 1 Dept.; McKeon, PJ, McCooe, Schoenfeld, JJ)

Topics

More like this