Finding a Rent-Stabilized Apartment in NYC Isn't That Hard
Rent stabilization (and sometimes ‘rent controlled’) is a phrase that gets thrown around a lot when people start looking for apartments in NYC. Essentially, rent stabilization is a regulatory law created by the NYC DHCR that applies to buildings built before 1974 (and, rarely, also used by newly constructed rentals) that can sustain cheaper rents for the lessees. Curbed’s Jessica Dailey has written a great article that explores how to find these mystical rent stabilized apartments. It also discusses the stark difference between ‘rent stabilization’ and ‘rent controlled.’
Since we’re on the subject of rent stabilization, Bloomberg’s Simon van Zuylen-Wood published an article yesterday regarding NYC serial-landlord Steve Croman and how he recently was “caught exploiting rent-control laws to bring in wealthier tenants.” An important read to give insight into the many rights NYC tenants have to protect them against unlawful landlords and property owners.