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AFAIK, being a rent stabilized unit has no bearing on the actual rent cost, it just means landlords cannot raise the rent above a certain percentage after contr
by mcntsh 4y ago
AFAIK, being a rent stabilized unit has no bearing on the actual rent cost, it just means landlords cannot raise the rent above a certain percentage after contract renewal. My 1br apartment is almost $4k/mo and it's rent stabilized.
- lisasays 4y agoYeah, there's a certain number of stabilized units which are "high-end" (for those earning 80-100 percent of the local median income), whose rents scarcely differ from those of market-rate units. But I assure you the vast bulk of stabilized units have grandfathered rents from way back, and these are far below market. Which is why the industry always fights tooth-and-claw to get these restrictions lifted or lessened, any time they get half a chance.