The Rent Stabilization Law of 1969

The Rent Stabilization Law of 1969 is a New York City regulation that limits how much landlords can increase rent on certain residential units. It aims to protect tenants from excessive rent hikes by setting maximum allowable increases each year, based on annual rent guidelines. The law also establishes rules for eviction, maintenance, and tenant rights, creating a balance between landlords’ ability to earn fair return and tenants’ right to affordable housing. It applies mainly to older buildings and helps ensure housing stability in the city.