Rent Stabilization

Another form of rent regulation, rent stabilization usually applies to buildings built before 1974 and apartments removed from rent control. After the rent has legally been raised to over $2,500 per month, or the household income of the tenants is over $200,000 per year, rent stabilization is no longer in effect. The amount that landlords are legally allowed to increase the rent every year is regulated by the NYC Rent Guidelines Board. It also covers buildings that receive J-51 and 421-A tax benefits, so there are newer buildings with apartments that have higher rent that also are regulated by rent stabilization.