How to Find a Rent-Stabilized Apartment in NYC

Renting in New York City is not for the weak. In fact, it takes a diligent, patient, and resourceful person to secure an apartment in this competitive and expensive rental market. And when it comes to finding a rent-stabilized NYC property, the challenge becomes even greater.

Though rent-stabilized apartments in NYC are a dime a dozen, it isn’t easy to nail one down. Because of their high demand, most renters who secure a rent-stabilized unit never want to give it up. However, with the right resources and determination, it is possible to secure one of these coveted, budget-friendly properties.

In this article, we’ll share our tips for finding rent-stabilized apartments in NYC, along with some information on what exactly a rent-stabilized apartment is and how it might benefit you. Here’s a preview of what we’ll cover:

• What are rent-stabilized apartments?
• How to identify New York City rent-stabilized apartments
• Can a rent-stabilized apartment be deregulated?
• Where to find rent-stabilized apartments in NYC

What Is a Rent-Stabilized Apartment?

If an apartment is rent-stabilized, that means that its landlord can only raise rent by a set percentage each year. In New York City, this percentage is determined by the NYC Rent Guidelines Board and is subject to change each year. For example, the Board’s current guidelines for rent-stabilized leases on or after October 1, 2024, through September 30, 2025, are as follows:

These current stabilization rates are down from the previous year, which capped rent increases for one-year leases at 3% and two-year leases at a collective 5.95%. Changes year-to-year are influenced by economic factors of the NYC real estate industry, including real estate taxes, sewer/water rates, gross operating maintenance costs, vacancy rates, and overall housing supply.

Rent stabilization in NYC dates back to the second half of the 20^th century. Enacted in 1969, this system was introduced to prevent drastic rent increases in post-war buildings. Since then, it has been extended and amended but still serves the same purpose of providing more stable, affordable housing to NYC renters.

Rent control vs. rent stabilization

Those familiar with rent-regulated housing in NYC might recognize the term “rent control.” Many consider this concept synonymous with rent stabilization. However, rent-controlled apartments have slightly different origins and regulations.

According to the NYC Rent Guidelines Board, rent-controlled apartments are those that meet the following criteria:

• Built before February 1, 1947
• Have six or more units
• Have tenants who have occupied the property before July 1, 1971, without ever breaking their lease

Rent-controlled apartments operate under the Maximum Base Rent (MBR) system, which establishes a maximum base rent for each unit and is adjusted every two years based on operating costs. Landlords can increase rent under this system, but it must fall under this maximum rate and an annual percentage limit set by the NYC Rent Guidelines Board. These regulations are notably stricter than those for rent-stabilized units, where landlords have more flexibility to raise rents.

Another key difference between rent-controlled and rent-stabilized apartments is accessibility. Rent-controlled apartments are much harder to secure, primarily because of their strict tenant requirements. As mentioned, rent control only applies when tenants have occupied the property since 1971. The only way to get around this limitation is to inherit a rent-controlled apartment through a family member or legal successor.

If a rent-controlled tenant dies, a family member or successor may be entitled to their tenancy. However, this only applies if that successor has lived in the unit with the original tenant for the two years before their death. In short, without a relative in a rent-controlled apartment, your chances of securing one are virtually nonexistent. Rent-stabilized apartments, however, are far more accessible and offer a more realistic option.

Criteria for rent stabilization in NYC

So, how does an apartment become rent-stabilized in NYC? According to the NYC Rent Guidelines Board, an apartment can be rent-stabilized if it meets the following criteria:

• Built between February 1, 1947, and December 31, 1973 (or built before February 1, 1947, with a tenant who moved in after June 30, 1971)
• Have six or more units (or have three or more units constructed or extensively renovated on or after January 1, 1974, with special tax benefits)
• Is not a co-op or condo

Rent-stabilized tenant rights

Along with protection from exorbitant rent increases, rent stabilization offers defense against wrongful eviction and guarantees the right to lease renewal. When signing a lease for a rent-stabilized unit, you can choose between a one- or two-year lease. Once that lease is up, your landlord must offer a renewal with the same terms as your original lease.

Additionally, rent-stabilized tenants may have succession rights, allowing certain family members to take over a lease if the primary leaseholder passes away or permanently vacates the property. For older adults and individuals with disabilities, there is also the possibility of qualifying for NYC’s Rent Freeze Program, which helps keep their rent at an affordable rate.

How to Tell if Your NYC Apartment Is Rent-Stabilized

So, how can you tell if an apartment is rent-stabilized in NYC? Luckily, the process is pretty straightforward. All you have to do is check the NYC Rent Guidelines Board’s list of rent-stabilized buildings, which spans each of the five boroughs. Or you can fill out an online form administered by the New York State Homes and Community Renewal. In this form, you can request a property’s rental history. If the apartment is rent-stabilized, you will receive the rent history in the mail.

If you’re leasing a new apartment, your landlord will likely disclose whether it is rent-stabilized. Usually, landlords will indicate that a unit is rent-stabilized in their online listing. These details should also be included in your lease agreement.

Can an Apartment Be Destabilized?

There are instances where a rent-stabilized apartment can become “destabilized” or deregulated. This means that rent regulation laws no longer protect the apartment, and the landlord can increase the rent without limitations. There are a few ways this can happen:

• Tax status of the building changes (ex., special tax programs like a 421-a or a J-51 abatement)
• The building is converted into a condo or co-op

Local law instructs landlords to provide notice of deregulation, including the amount of the last regulated rent, and a copy of the rent registration files with the NYS HCR.

How to Find Rent-Regulated Apartments in New York City

We know NYC apartment hunting isn’t always easy, especially if you have your sights set on a rent-regulated property. With a cost of living nearly 150% above the national average, many renters are on the lookout for more budget-friendly options. This has made rent-stabilized and rent-controlled apartments highly sought after, offering vital financial protection and stability.

If you, too, are one of these NYC renters seeking out a rent-regulated apartment, use the following tips to aid your search:

Start your search early

Getting a head start on your search can make all the difference when finding the perfect apartment. Popular listings can go fast, especially rent-regulated ones, so beginning early gives you more options to choose from. It also allows you time to compare prices, neighborhoods, and amenities without feeling rushed.

Consider working with a broker

Although they’ll be an additional cost, a broker can be a huge help in finding rent-regulated NYC apartments. Not only will they provide valuable insight to help you navigate the market, but they also might have exclusive access to listings. With one by your side, you could have a real leg up on other renters seeking affordable rental options.

Utilize online resources like Apartments.com

Your rental search platform makes a big difference in your apartment hunt. From the listings you find to the application process, it’s essential to use a tool you can trust. This is where online resources like Apartments.com come in.

Apartments.com offers advanced search tools to streamline your NYC apartment hunt. Whether you’re looking for a Brooklyn brownstone or a Manhattan high-rise, our platform lets you filter by location, budget, amenities, and more to ensure you find the perfect place to call home in the Big Apple.