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Failure to provide these may allow the tenant to receive a lower rent. [4] Outside of New York City, the state government determines the maximum rents and rate increases, and owners may periodically apply for increases. In New York City, rent control is based on the Maximum Base Rent system. A maximum allowable rent is established for each unit.
According to Sharon Otterman and Matthew Haag of The New York Times, the HSTPA "mark[s] a turning point" for the millions of New Yorkers living in rent-stabilized apartments "after a steady erosion of protections and the loss of tens of thousands of regulated apartments."
Recent reports estimate that there are over 1 million rent-stabilized apartments in New York City. That means that almost half of the city's rental units are subject to rules that keep rents cheap.
The Supreme Court declined Tuesday to hear challenges to New York’s rent stabilization laws, which impose strict rules on how landlords can lease some units in the Empire State.
The median rent-stabilized apartment goes for $1,500 a month, meaning a 2.75 percent increase works out to a $41 monthly rent increase. While rent-stabilized tenants' incomes are lower on average ...
The New York State Division of Housing and Community Renewal (DHCR) is an agency of the New York state government [1] responsible for administering housing and community development programs to promote affordable housing, community revitalization, and economic growth. Its primary functions include supervising rent regulations through the State ...
Almost half of all apartments in New York City are rent stabilized. It was a system designed to keep some units affordable, especially in older buildings put up before 1974.
New York City's modern rent stabilization system, enacted in 1969, was designed to address a shortage of affordable housing by capping rent increases and curbing the authority of property owners ...