|Program (?)||Rent Regulation|
|Alternative Name(s)||Rent Control; Rent Stabilization|
The term “rent regulated” can mean any program that regulates the amount of rent the landlord may charge for the apartment. In New York City, however, the term is generally used to refer to a legislative system of regulation of private apartments under two programs, rent control and rent stabilization. The rent control program generally applies to residential buildings constructed before February 1947 in municipalities that have not declared an end to the postwar rental housing emergency that emerged after World War II. A total of 51 municipalities have rent control in New York State, including New York City. Municipalities must declare an end to rent regulation if the overall vacancy rate of the city rises about five percent.
In NYC, rent stabilized apartments are those apartments in buildings containing six or more units built between February 1, 1947 and January 1, 1974. Tenants in buildings of six or more units built before February 1, 1947, who moved in after June 30, 1971, are also covered by rent stabilization. A third category of rent stabilized apartments covers buildings with three or more apartments constructed or extensively renovated since 1974 that receive tax or program benefits that are conditioned upon participation in rent stabilization. Generally, these buildings are stabilized only during the term of the tax or program benefits.
Restrictions the regulations impose include: annual percentage rent increases set by the Rent Guidelines Board; and “vacancy decontrol,” which allows units to leave regulated status if the occupying person’s household income rises above a threshold amount for two consecutive years, or if the legal rent regulated price of the unit increases over a threshold amount determined by the statute.
|Benefit Classification (?)|
|Supply or Demand||Supply|
|One-Time or Ongoing||One-Time, Ongoing|
|Benefit Type (?)||Other|
|Government Agency (?)||NYS Department of Homes and Community Renewal|
|Program Information (?)|
|Scale||Very Large Scale (over 10,000 units produced)|
|Developer/Owners (?)||For-Profit, Non-Profit|
|Property Information (?)|
|Construction Type||Not Applicable|
|Occupant Tenure (?)||Rental|
|Occupant Income Restrictions (?)||Varies|
|More Information||NYS HCR
NYC Rent Guidelines Board
|Available on CoreData.nyc?||No|