Real Estate Q & A
By JAY ROMANO
Moving From a Stabilized Apartment
Q. After 40 years in a rent-stabilized apartment, I must now move. Will I have any protection in the new apartment when I turn 65? I’m concerned that my new landlord will increase my rent as much as he wants when it’s time for a renewal.
A. “Unless seniors move to regulated or subsidized housing, or the new lease provides otherwise, they are not exempt from renewal increases set by a landlord,” said Glenn H. Spiegel, a
Although rent increases in free-market apartments can’t be prevented if the tenant doesn’t qualify for the exemption, he said, state law allows residents 62 and older — under certain circumstances — to end a tenancy before the lease expires without having to pay the balance of the lease term. The circumstances dictate that residents move into an adult-care facility, a nursing home, subsidized housing, or the home of a family member. Mr. Spiegel noted that in such cases, a physician must certify that the tenant is no longer physically able to live independently.
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