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Updated almost 3 years ago on . Most recent reply

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Rent Stabilization Act guidance needed

Chelsea Canning
Posted

 I am in a landlord situation where I bought a duplex with intent to move into the unit (“Investor realtor” gave very erroneous info during purchase) but Covid
happened and I was unable to remove the tenants due to the moratorium. Now I would like to move into the unit, I have been upside down in the property all through Covid even though the tenants are paying rent. one of the units is far below market value by the tune of half below. They are good tenants, never miss a payment and have been there for over ten years, approx 12 yrs. The people who rented the property initially are not living in the property, and no names of existing tenants match the original lease.  I’ve tried to read the Rent Stabilization Act, and it’s quite confusing and contradictory in some places. Need help figuring out what to do next.

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