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Do you mean rent stablized specifically vs controlled? About 1% of NYC apartments are rent controlled, about 50% are rent stabilized. In controlled units you

Do you mean rent stablized specifically vs controlled? About 1% of NYC apartments are rent controlled, about 50% are rent stabilized. In controlled units you might see a minor increase over time, but generally you're paying what the unit was priced at 50 years ago. Leaving typically means an increase in rent of 500-700%, and these are practically impossible for new tenants to get. In stablized units the rent can only be increased by a percentage determined by a board, typically 2-3% a year.

busterarm 3y ago
Former rent-controlled apartment dweller here. That's not true. Stabilized units can increase something like 4% a year, up until they hit the threshold that takes them out of stabilization. Controlled units can increase 2% every two years and historically did not do so from the 90s until a few years ago where increases have been happening and the housing board has advocated on behalf of landlords for additional/emergency increases. Rent increases can happen completely separate from this process through building improvements and from the late 80s through to the early 2000s, my landlord managed to add $700 onto our controlled rent through really shady/shoddy/fake building improvements. Growing up about 80% of the units in the building were rent-controlled and when I left there was was only 1 controlled unit left after mine. Nobody in my family, even though they all still live in NYC, wanted to take over the apartment. Most controlled apartment renters die and have nobody eligible to take them over (an immediate family member has to cohabitate for like 2 years with the renter). The number remaining across all of NYC is exceedingly small, like under 15000. There are ~4 million housing units in NYC. Rent-controlled apartments are true unicorns. But close to 75% are stabilized. They would do shit like slap a coat of primer on the hallways and add $50/mo in permanent rent to everyone's bill (90 unit building).
- cantSpellSober 3y ago
  Emphasis on "might" and "generally" in the OP :) > my landlord managed to add $700 onto our controlled rent through really shady/shoddy/fake building improvements Ugh, your story is not uncommon sadly.
- phonon 3y ago
  That's not true. Rent Guidelines change every year. They've typically been 2% or lower. Due to high inflation, the latest increase is 3.0%. [1] There is no longer High-rent or High-income rent decontrol since 2019. Individual Apartment Improvements and Major Capital Improvement now provide a much smaller basis for rent increases and/or are temporary. [2] [1] https://rentguidelinesboard.cityofnewyork.us/wp-content/uploads/2023/07/2023-Apartment-Chart.pdf https://rentguidelinesboard.cityofnewyork.us/wp-content/uplo... [2] https://hcr.ny.gov/system/files/documents/2021/08/rent-laws-overview-english-10-2019.pdf https://hcr.ny.gov/system/files/documents/2021/08/rent-laws-...
  - busterarm 3y ago
    missing the forest for the trees. three years of change doesn't make any difference. To have rent control you have to have been in your apartment since before 1970. Capital improvements are how rent-controlled apartments had their rents jacked up between then and now. The majority of decontrol happened before any changes made in 2019. The suggestion made before was that rent-controlled apartments were locked into the prices people paid 50 years ago and that's not remotely true. Also the number of rent-controlled apartments remaining in NYC is practically insignificant.
    - cantSpellSober 3y ago
      > that's not remotely true It's at the very least remotely true, if exaggerated > [The median monthly rent for unregulated units is] $1,845 > The median monthly rent is about $1,400 for rent-stabilized units > [The median monthly rent for rent-controlled units is] around $858 https://archive.is/wB1yN https://archive.is/wB1yN The OP was unclear, controlled units are certainly not "locked into" any price. To your point: > rent control operates under the Maximum Base Rent (MBR) system. A maximum base rent is established for each apartment and adjusted every two years to reflect changes in operating costs. Owners [...] are entitled to raise rents the [..] the average of the five most recent Rent Guidelines Board annual rent increases for one year renewal leases [...] until they reach the MBR https://hcr.ny.gov/system/files/documents/2022/09/fact-sheet-01-09-2022.pdf https://hcr.ny.gov/system/files/documents/2022/09/fact-sheet... Owners are so anxious to get tenants out (so they can start the gouging) that they offer tenants in controlled units buyouts to leave. > In general, a buyout could range from $20,000 to $60,000 https://www.singhranilaw.com/post/understanding-and-negotiating-buyout-agreements https://www.singhranilaw.com/post/understanding-and-negotiat...

busterarm 3y ago

Former rent-controlled apartment dweller here. That's not true. Stabilized units can increase something like 4% a year, up until they hit the threshold that takes them out of stabilization. Controlled units can increase 2% every two years and historically did not do so from the 90s until a few years ago where increases have been happening and the housing board has advocated on behalf of landlords for additional/emergency increases. Rent increases can happen completely separate from this process through building improvements and from the late 80s through to the early 2000s, my landlord managed to add $700 onto our controlled rent through really shady/shoddy/fake building improvements. Growing up about 80% of the units in the building were rent-controlled and when I left there was was only 1 controlled unit left after mine. Nobody in my family, even though they all still live in NYC, wanted to take over the apartment. Most controlled apartment renters die and have nobody eligible to take them over (an immediate family member has to cohabitate for like 2 years with the renter). The number remaining across all of NYC is exceedingly small, like under 15000. There are ~4 million housing units in NYC. Rent-controlled apartments are true unicorns. But close to 75% are stabilized. They would do shit like slap a coat of primer on the hallways and add $50/mo in permanent rent to everyone's bill (90 unit building).

cantSpellSober 3y ago
Emphasis on "might" and "generally" in the OP :) > my landlord managed to add $700 onto our controlled rent through really shady/shoddy/fake building improvements Ugh, your story is not uncommon sadly.
phonon 3y ago
That's not true. Rent Guidelines change every year. They've typically been 2% or lower. Due to high inflation, the latest increase is 3.0%. [1] There is no longer High-rent or High-income rent decontrol since 2019. Individual Apartment Improvements and Major Capital Improvement now provide a much smaller basis for rent increases and/or are temporary. [2] [1] https://rentguidelinesboard.cityofnewyork.us/wp-content/uploads/2023/07/2023-Apartment-Chart.pdf https://rentguidelinesboard.cityofnewyork.us/wp-content/uplo... [2] https://hcr.ny.gov/system/files/documents/2021/08/rent-laws-overview-english-10-2019.pdf https://hcr.ny.gov/system/files/documents/2021/08/rent-laws-...
- busterarm 3y ago
  missing the forest for the trees. three years of change doesn't make any difference. To have rent control you have to have been in your apartment since before 1970. Capital improvements are how rent-controlled apartments had their rents jacked up between then and now. The majority of decontrol happened before any changes made in 2019. The suggestion made before was that rent-controlled apartments were locked into the prices people paid 50 years ago and that's not remotely true. Also the number of rent-controlled apartments remaining in NYC is practically insignificant.
  - cantSpellSober 3y ago
    > that's not remotely true It's at the very least remotely true, if exaggerated > [The median monthly rent for unregulated units is] $1,845 > The median monthly rent is about $1,400 for rent-stabilized units > [The median monthly rent for rent-controlled units is] around $858 https://archive.is/wB1yN https://archive.is/wB1yN The OP was unclear, controlled units are certainly not "locked into" any price. To your point: > rent control operates under the Maximum Base Rent (MBR) system. A maximum base rent is established for each apartment and adjusted every two years to reflect changes in operating costs. Owners [...] are entitled to raise rents the [..] the average of the five most recent Rent Guidelines Board annual rent increases for one year renewal leases [...] until they reach the MBR https://hcr.ny.gov/system/files/documents/2022/09/fact-sheet-01-09-2022.pdf https://hcr.ny.gov/system/files/documents/2022/09/fact-sheet... Owners are so anxious to get tenants out (so they can start the gouging) that they offer tenants in controlled units buyouts to leave. > In general, a buyout could range from $20,000 to $60,000 https://www.singhranilaw.com/post/understanding-and-negotiating-buyout-agreements https://www.singhranilaw.com/post/understanding-and-negotiat...