Sentence examples for preferential rent from inspiring English sources

But if the "preferential rent" is for the entire tenancy, the landlord must base rent increases only on the preferential rent.

He received a preferential rent of $635 "because it was so bad around here back then".

And if the lease is ambiguous or silent about the duration of a preferential rent, the ambiguity is generally resolved in favor of the tenant and the preferential rent continues throughout the tenancy.

Before June 15 , 2003 if a landlord signed a lease granting a preferential rent, all subsequent increases were based on that preferential rent, not on the higher legal rent the owner could have originally charged.

But the law change allows deregulation even if the tenant pays what the rent-stabilization code calls a "preferential" rent below that amount.

Under a rider to the lease, however, I was allowed to pay what the landlord called a "preferential rent" of just under $2,000.

The duration of preferential rents can be important when a building is being converted.

According to housing division statistics, 11percentt of the approximately 860,000 apartments registered last year had preferential rents.

In 2003, however, the State Legislature amended the Rent Stabilization Code to provide that preferential rents would terminate upon vacancy or renewal, allowing landlords to end preferential rents when leases expired.

"Under the old rules," Mr. Ricci said, "many owners didn't grant preferential rents because they would be locked in.

Mr. Warner and thousands of other tenants are being jolted by a change in the rent-stabilization law regarding what are called preferential rents -- rents lower than what the landlord could have legally charged.