Property Management
A New York City tenant who lives in a rent-stabilized apartment has a right to:
ASublease the apartment to any third party without any restriction
BA renewal lease at the RGB-approved increase✓ Correct
CConvert the apartment to a cooperative with board approval
DReceive a 50% reduction in rent during any period of required repairs
Explanation
Under New York rent stabilization law, a tenant in a rent-stabilized apartment is entitled to a renewal lease at the RGB-approved increase. The landlord cannot refuse to renew without good cause (grounds established by law such as non-payment or nuisance).
Related New York Property Management Questions
- In New York City, 'illegal conversion' refers to:
- Under New York's Good Cause Eviction Law (effective 2024 for qualifying tenants), landlords who wish to non-renew a lease or raise rents above a certain threshold must:
- Which of the following is a common component of a property management agreement?
- In New York, a landlord who fails to return a tenant's security deposit within the required period may:
- In New York, a landlord who wrongfully withholds a security deposit after the tenant vacates may be liable for:
- New York City Rent Stabilization Law applies primarily to:
- The purpose of a building's reserve fund in property management is to:
- In New York, a property manager's authority to manage is typically established by a:
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