Nice piece of spin doctor damage control, but you aren't going to sell any condos this weekend anyway.

In ten months, plus your "oversubscribed" phone lottery, you have only managed to dump 100. At progressively lower and lower prices to boot.

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If you are an individual unit owner, it should

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Phone lotto wuz 0.25x oversubscribed.

It confirmed the rent control status of the legacy tenant .....

Not so. Read it again. The legacy tenant is not subject to rent control. The tenant of a new owner is the only one subject to rent control. But look, this will probably be hashed out in the newspapers this weekend.

"Not so. Read it again. The legacy tenant is not subject to rent control. The tenant of a new owner is the only one subject to rent control. But look, this will probably be hashed out in the newspapers this weekend."


Toll just sent me a new lease canceling out the old. So now I am the tenant of the new owner not the legacy.

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chicagofinance posting:
You are twisting the story. The question is why?

While I understand the point being made by Mr. Ganz, after reading the statute, I strain to following the reasoning of his interpretation.

Somehow [as usual] we have a bunch of people trying to spin out a bunch of nonsense. Toll lost, but it is going to court. If I understand correctly, the tenant can have the Rent Leveling office provide the correct rent calculation, and Toll would need to adjust it's books accordingly.

Toll can [and will] appeal this setback for them.

Ultimately what happens - who knows? But to make partisan comments is misleading.

The only question I have is as follows:

- if you are a current renter
- your lease (which was raised 8%) is not up until November
- and you are not planning on moving

Is there any action I should be taking now or do I just sit tight?

I would think if Toll lost then they are subject to rent control immediately unless they can get a court to hold off such a ruling until they can file an appeal?

Wouldn't Toll be required to immediately reissue leases with increases in violaton of rent control?

Please advise. Thanks

I understand this pretty much the same way. We can go and fill out te request to get the "Legal Rent" calculated. Once you have that, I guess you will have to get in touch with Toll to get your Rent Adjusted and overpayments credited to the point where Toll sold the 1st apartment.

They may or may not refuse and the it will go off too court. And I am pretty sue they will giving that the new building that should come up this summer is probably affected as well and it does definitly affect the market value.

While I am quite happy about the decision I feel sorry for all the people who bought who were not insider.

Call Carole in the Rent Control office at City Hall.

Better yet, stop by during business hours if you can.