Rent Control in New York

Rent control in New York is a government regulation that limits how much landlords can increase rent for certain apartments, primarily in older buildings. It aims to protect tenants from sudden, unaffordable rent hikes and preserve affordable housing. Rent-controlled apartments are usually among the oldest and have restrictions on eviction. In addition, New York also has rent stabilization laws that apply to many newer buildings, capping increases annually and providing tenants some renewal rights. Overall, rent control and stabilization help maintain a balance between landlords' revenue and tenants' affordability in the housing market.