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Rent Stabilization in New York City

What is rent stabilization?

Rent stabilization is a type of rent regulation in New York City that protects tenants from sharp increases in their rent. Landlords who own apartments that are subject to rent stabilization can only raise the rent according the percentage increases that Rent Guidelines Board (RGB) allowed each year for renewal leases. Rent stabilization also gives tenants the right to renew their lease in most situations. The rent stabilization system was established in 1969 after the rents of many post-war buildings were rising too rapidly, according to the New York City RGB. Today, about 1 million New York City apartments are subject to rent stabilization.

Is my apartment eligible for rent stabilization?

There are various factors that will determine whether an apartment building falls under the category of rent stabilization, including the year the structure was built or the year it was renovated (with the building maintaining special tax benefits). There are certain things that can cause an apartment unit to become deregulated, including when the unit becomes vacant and the rent for that unit goes over $2,500. De-regulation can also occur if an apartment building is converted to a co-op.

Landlord Tenant Attorney in NYC

Sometimes, there are disputes that arise over rent stabilized apartments. For example, disputes may arise over whether the apartment actually qualifies for rent stabilization. Or, there might be claims that a landlord of a rent-stabilized apartment is raising rent above the percentage increases that are allowed by the Rent Guidelines Board. If you have a landlord-tenant matter that you need assistance with, don't hesitate to consult with our landlord tenant lawyer in NYC at The Law Office of Tamara I. Jordan P.L.L.C. Call our office today!

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The Law Office of Tamara I. Jordan P.L.L.C. - Landlord Tenant Attorney NYC
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