Rent Stabilization Law

Rent Stabilization Law is a regulation that limits how much landlords can increase rent annually and provides tenants with certain protections against eviction. It aims to keep housing affordable and prevent unreasonable rent hikes in specific areas or buildings. Landlords can only raise rents within the limits set by law, and tenants have rights to renew leases and contest unfair eviction actions. This law balances the interests of property owners and tenants by promoting stability and affordability in the rental market.