By: Akanksha A. Panicker
An apartment’s unique history determines its legal rent rather than the individual’s ability to pay. This means that tenants in identical apartments may pay exceedingly disparate rent, more so if there is a differentiation between newer tenants and long-term tenants.
Rent control in New York is a means of limiting the amount of rent charged on dwellings. Rent control and rent stabilization are two programs used in parts of New York State (and other jurisdictions). In addition to controlling rent, the system also prescribes rights and obligations for tenants and landlords.