WHAT IS A RENT STABILIZED APARTMENT.
What is a rent stabilized apartment?
Rent-stabilized apartments occupy buildings that:
Have more than 6 units
Occupy building built prior to 1974
Rent stabilized apartment typically lease for less than $2,700/month.
The greatest benefits of rent-stabilized apartments include limits on how much your landlord can increase your rent each year and a guaranteed right to renew your lease.
It’s important to note that most listings will not necessarily advertise that an apartment is rent-stabilized .
However, it’s often possible to tell if it is based on the listing price and age of the building.