Rent controls, such as those built in to the amount which a landlord can raise the rent per annum, are often specific to the tenant and their lease. Thus when t

Rent controls, such as those built in to the amount which a landlord can raise the rent per annum, are often specific to the tenant and their lease. Thus when the tenants die or are able to get booted off the lease / kicked out of the apartment (NYC has very pro-tenant housing laws), the apartments go for the market rate and the cycle begins anew.