Photo by PoPville flickr user Lauren PM
I have a question and was thinking your trusty readers might have the answer. I’m moving into an efficiency in an older building in Columbia Heights. One of the documents presented to me while signing my lease shows “Disclosure of Basis of Rent Charged” and has the rent increases over the past 5 years. Now, this is a big company, and I’m sure they know what they are doing, but it seems from what I know, limited as it is, you shouldn’t be allowed to raise the rent $130 in one year (from 833 to 963). They are saying that it calls under section 213(a)2 Vacancy Highest Comparable, citing an apt on the floor below. Is there a limit as to how much rent can be raised in this situation?”
Anyone know how much rent can be raised in a year?