Rent-controlled apartments are part of New York’s effort to provide affordable housing. If you’re living in one or thinking about moving in, understanding the rules can help you navigate the process and ensure you don’t face unexpected challenges.
Rent control basics
Rent control applies mainly to buildings built before 1974. These older buildings are subject to rent regulations that limit rent increases, making them more affordable for tenants. The New York State Division of Housing and Community Renewal (DHCR) oversees rent control and sets the maximum allowable rent to keep it affordable over time.
Eligibility for rent control
To be eligible for rent control, tenants must have lived in the apartment since before 1971 and continued living there. This “grandfathering” rule keeps rent control in place for long-term tenants, allowing them to benefit from lower rent rates and avoid significant rent hikes.
Even eligible tenants may face modest rent increases, but they will be regulated and less significant compared to market rates, helping to maintain affordability.
How rent control affects landlords
Rent control laws limit how much landlords can charge. They cannot raise rent beyond established caps. However, they can recover costs for capital improvements or major repairs under specific conditions. This helps ensure that the property is well-maintained while respecting tenant affordability.
Rent control vs. rent stabilization
Rent control differs from rent stabilization, which applies to newer buildings. Rent-stabilized apartments have similar protections, but the rules for rent increases and eligibility differ, often making rent-stabilized apartments more widely available.
Rent-controlled apartments are rare due to strict eligibility and limited availability. If you secure one, the affordability it offers can be a significant advantage in New York’s expensive housing market.
Understanding rent control laws helps you protect your rights and avoid unexpected rent hikes, ensuring stability in your living situation.