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    domesticdiva's Avatar
    domesticdiva Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Jun 13, 2008, 10:33 AM
    Rent Increase
    We own a rental home in Newburgh, NY and would like to increase the rent. Do you know if NY State has a cap on how much we can increase the rent (5%? 10?% dollar amount? ) and how much notice we have to give.
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #2

    Jun 13, 2008, 10:35 AM
    Unless you are under rent control laws, there shouldn't be a cap.

    You cannot raise the rent until the lease has expired. You should give at least one month's notice before the lease expiration. If you on a month to month basis, then you have to give one months notice.
    progunr's Avatar
    progunr Posts: 1,971, Reputation: 288
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    #3

    Jun 13, 2008, 10:49 AM
    Can't rate it yet, but he is CORRECT.

    If the tenant is in the middle of an extended lease, you will have to wait until 30 days prior to the expiration of the current lease.
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