Tenant’s Rights: Understanding Protections When Your NYC Apartment Building Is Sold

As a tenant in New York City, it’s crucial to understand your rights, especially when your apartment building is sold. The sale of a building can bring about a lot of uncertainty and anxiety for tenants. However, it’s important to know that you have legal protections in place. This article will delve into the rights and protections you have as a tenant when your NYC apartment building is sold.

What Happens When Your Apartment Building is Sold?

When your apartment building is sold, the new owner takes over the responsibilities of the previous landlord. This includes honoring existing leases. If you have a lease, the new owner cannot evict you or raise your rent until your lease expires. If you are a month-to-month tenant, the new owner must give you a 30-day notice before raising the rent or asking you to leave.

What are Your Rights as a Tenant?

As a tenant in NYC, you have several rights when your apartment building is sold:

• Right to a habitable home: The new owner must maintain the property and make necessary repairs to ensure it’s safe and habitable.
• Right to security deposit: Your security deposit must be transferred to the new owner. If your previous landlord doesn’t transfer the deposit, the new owner is still responsible for returning it when you move out.
• Right to privacy: The new owner cannot enter your apartment without giving you reasonable notice, except in emergencies.

What if the New Owner Wants to Evict You?

If the new owner wants to evict you, they must have a legal reason. In NYC, tenants are protected by the “just cause” eviction law, which means landlords can only evict tenants for specific reasons, such as non-payment of rent or violation of lease terms. If you’re a rent-stabilized tenant, you have additional protections and can only be evicted under certain circumstances.

What if the New Owner Wants to Convert the Building?

If the new owner plans to convert the building into condos or co-ops, they must offer tenants the option to buy their unit before selling it to outsiders. Rent-stabilized tenants have the right to remain in their apartment even if the building is converted.

Where Can You Get Help?

If you believe your rights have been violated, you can seek help from various resources. The New York State Attorney General’s office, the NYC Department of Housing Preservation and Development, and the NYC Rent Guidelines Board are all good places to start. You can also consult with a tenant rights attorney.

Understanding your rights as a tenant when your apartment building is sold can help you navigate this potentially stressful situation. Remember, you have legal protections in place, and there are resources available to help you.