Rent Stabilization Lao

Question 1

§ 2523.5 Notice for renewal of lease and renewal procedure

(a) [An offer to renew shall issue to tenant]…dated by the owner…not more than 150 days and not less than 90 days prior to the end of the lease term…at the legal regulated rent…on the same terms and conditions as the expiring lease. The owner shall give [tenant]…___ from the date of service of such notice to accept…and renew such lease….[and] shall furnish …a copy of the fully executed renewal lease…bearing the signatures of the owner and tenant within 30 days of the owner’s receipt…. [I]f notice is given to the tenant after the expiration of the lease…___.

Answer 1

1. sixty days
2. subdivision c shall govern

Question 2

§ 2523.5 Notice for renewal of lease and renewal procedure

(c) (1) [Owner failure to timely renew]…the one- or two-year lease term selected by the tenant shall commence at _____, either;

(i) on the date a renewal lease would have commenced had ___, or

(ii) on the first rent payment date occurring no less than____.

In either event, the ____ of the increased rent under the renewal lease shall commence on the ____ occurring no less than 90 days after such offer is made by the owner, and the guidelines rate applicable shall be no greater than the rate in effect on the commencement date of the lease for which a timely offer should have been made.

Answer 2

1. the tenant’s option
2. timely offer been made
3. 90 days after the owner offers the lease to the tenant
4. effective date
5. first rent payment date