Any New York LANDLORDS out there?

Question

i recently became a landlord and would like to increase the rent after the lease expires since the rent amount is very low and my taxes have increased.

is there a maximum amount i can increase the rent by in New York.? how can i find out. is there a law that puts a cap on the increase?

my unit is not 'rent controled' or 'rent stabilized'.

thanks

Answer 1

I was a landlord in upstate NY (near Buffalo) for a few years. I was not aware of any rent increase cap in NY. Just be ready to look for new tenants as most people won't stay through a large rent increase.

good luck!