Board members advised the landlord to seek legal counsel and possibly pursue action against the seller’s attorney if misrepresentation could be proven. The landlord’s predicament underscores the complexities of property investment, especially when acquiring properties with existing tenants protected by anti-eviction statutes. The board emphasized tenants’ rights, noting that eviction without cause is not permissible under current regulations.

In another matter, a property owner of a building with three residential units and a commercial space sought to raise rents by 25% from an average of $1,000 to about $1,300. The board discussed the concept of unconscionable rent increases, recognizing the challenge of determining fairness given the property’s historically low rents. This scenario illustrates ongoing tensions between landlords seeking to adjust rents and tenants relying on affordable housing.