How do you know if a building is rent-controlled?

Get Legal Help Today

 Secured with SHA-256 Encryption

How do you know if a building is rent-controlled?

I am a new potential apartment building owner. It is occupied but I am buying it out of bankruptcy. Does this effect the rent-control laws?

Asked on August 1, 2011 District of Columbia

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

If you are buying an apartment building from a bankruptcy estate and want to know if the building is subject to rent control, you need to contact the bankruptcy trustee to ask that question and ask to see copies of all leases and the payment history for the building. From the written leases, you can determine if monthly rental is below market rate and if so, the building is probably subject to rent control.

You should also hire a real estate agent or an attorney to contact any governmental enity in the city/town where the building you are interested in buying is located to ask if it is subject to rent control. Most municipalities that have rent control have agencies in charge of enforcing its provisions. If the municipality where the unit you wish to purchase has rent control, go down to the agency in charge of enforcing rent control to see if the building is subject to its provisions and is registered.

You need to undertake your own due diligence to make an informed decsion in making an offer to purchase the building. Buying the building in a bankruptcy does not take it out of rent control restrictions ofit is subject to rent control.

Good luck.

You need to


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

 Secured with SHA-256 Encryption