Rent Stabilization (New York)

Rent Stabilization in New York is a law that limits how much landlords can increase rent and provides tenants with certain legal protections. It applies to many residential buildings built before 1974, among other criteria. Under this law, rent increases are regulated through government-approved guidelines, ensuring they remain reasonable. Rent-stabilized tenants also have the right to renew their leases, appeal rent hikes, and enjoy protections against eviction without proper cause. Overall, the system aims to promote affordable, stable housing for residents in New York City and certain other areas while balancing landlords’ ability to maintain their properties.