Determining Fair Market Rent, Negotiating Initial Rent of a Decontrolled Apartment
Q A rent-controlled tenant is vacating. There are eight apartments in my building. The other seven apartments were previously rent controlled or rent stabilized. As they became vacant, I renovated each apartment and then rented them, between the years of 2009 and 2012. They are currently all permanently exempt and not regulated. These are all the same size and “comparable” to the newly vacant apartment.