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Can I buy property when living in a rent Stabilization apartment in New York?


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#1 slipup0621

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Posted 17 January 2013 - 10:22 PM

I live in the new Booming Greenpoint/Williamsburg Area in Brooklyn, N.Y. I lived here all my life and living in my current apartment for 20+ years.
Now I'm thinkin of buying investment property in a different state. Can my landlord evict me for having this investment property?

#2 adjusterjack

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Posted 18 January 2013 - 07:46 AM

I live in the new Booming Greenpoint/Williamsburg Area in Brooklyn, N.Y. I lived here all my life and living in my current apartment for 20+ years.
Now I'm thinkin of buying investment property in a different state. Can my landlord evict me for having this investment property?


I don't think so.

My sisters live in NYC in rent stabilized apartments so I know quite a bit about NYC laws even though I live in AZ.

I don't believe that rent stabilization has anything to do with the tenant's income or assets.

So, if you don't have to fill out income and asset forms every year, investment property shouldn't be an issue.

Here are some resources for you.

This one has the rent stabilization codes.

http://www.tenant.ne...rsc/rsctoc.html

This one is an NYC forum where you can discuss the issue with other NYers.

http://www.tenant.net/phpBB2/

Warning: Legal issues are complicated. Explanations and comments here are simplified and might not fully explain the ramifications of your particular issue. I am not a lawyer. I do not give legal advice. I make comments based on my knowledge and experience. I guarantee nothing. If you act on my comments without the advice of an attorney, you do so at your own risk.


#3 Guest_FindLaw_Amir_*

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Posted 25 January 2013 - 03:05 PM

Has the landlord informed you that you may be evicted due to your investment property?




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