How To Get A Rent Stabilized Apartment In Nyc

New York City tenants rights are very strong so its no wonder that it can be difficult to deregulate a rent-stabilized investment property.

How to get a rent stabilized apartment in nyc. Rent stabilization protects tenants from sharp rises in rents. As a tenant of a rent-stabilized apartment you have the right to occupy a working updated apartment. The measure is in place to protect New York Citys rent-stabilized inventory.

Are in buildings built before February 1 1947. What else were reading. How do I get a rent stabilized apartment in NYC.

NYCs Rent Guidelines Board sets increases for rent stabilized apartments every year. It just means that you shouldnt get a rent increase said Shapiro from Met Council. The NYC Rent Guidelines Board adopted rent adjustments for rent stabilized apartment and loft leases commencing on or after October 1 2020 and on or before September 30 2021.

Rent-stabilized apartments have rents regulated by the government which means that landlords can only raise rents by a set amount each year. If an owner filed after the lists were compiled or not at all a building will not be on our lists but may still contain rent stabilized apartments. Rent-stabilized units in new construction are typically not attractive as they are often stabilized at an above-market rent for example you may sign a lease for a 1 bedroom apartment in a new development for 3000month but that will likely be a preferential rent due to market conditions while the actual stabilized rent could be hundreds or thousands more making it easy for the landlord to raise rents as they see fit.

For an apartment to be stabilized it must have had a rent of less than 2000 if the tenant first moved into the apartment in 1993 or later. Fortunately a handful of the popular NYC rental apartment aggregate websites such as Transparentcity Streeteasy Renthop and Zumper all have a nice feature function that allows renters to filter through the descriptions of their listings where posters are writing in the description if the apartment is rent stabilized. 0 for the first year of the lease and 1 for the second year of the lease.

If your apartment is indeed stabilized your landlord is supposed to attach to your lease the Rent Stabilization Lease Rider The rider informs you of your rights and responsibilities as a rent stabilized tenant and includes the prior rent for the apartment as well as the reasons the rent. Have been occupied continuously by a tenant or hisher legal successors since June 30 1971. A rent-stabilized tenant doesnt need a new lease.