Management Basics

RSS

Q A long-term tenant, who lived in the same apartment for 40 years, died recently. I wish to verify the calculation of the new rent. If I calculate the prior legal rent, plus the long-term prior tenant increase, plus the Rent Guidelines Board Order (RGBO) #40 percentage increase, plus 1/40th of the cost of improvements, would this be the allowable computation?

Many elderly tenants are capable of living independently and paying their rent on time. But sooner or later, you may have an elderly tenant who has trouble coping with day-to-day concerns, such as managing money, paying rent on time, or keeping his apartment tidy.