Phrases with «preferential rent»

"Preferential rent" refers to a discounted or below-market rate that a landlord offers to a tenant. It means that the tenant pays a lower rent than the maximum amount allowed by rent regulations in a particular area. However, the landlord can increase the rent up to the maximum allowed amount in the future, potentially causing the tenant's rent to go up significantly. Full definition

preferential rent

Sentences with «preferential rent»

I currently co-sponsor a package of three bills to strengthen tenants» rights including the preservation of preferential rent on the renewal of a lease, taking away vacancy bonuses from unscrupulous landlords and ending vacancy decontrol to keep rent stabilized units available. (manhattantimesnews.com)
New York Communities for Change blames Cuomo for failing to embrace its priorities for tenants, such as ending a practice that allows landlords to raise what is known as preferential rent on apartments in the state's rent stabilization program. (politico.com)
«Separately, due to Albany's inability to close unresolved loopholes with preferential rent, approximately 27 percent of tenants could see their rent go up by thousands of dollars, regardless of tonight's RGB decision and without advance notice,» warned Williams, however. (caribbeanlifenews.com)
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Phrases with «preferential rent»

Sentences with «preferential rent»

See also