What is Rent Stabilization?

Deregulating Apartments: Apartments may become deregulated when the legal regulated rent in a newly vacant apartment has already reached the Deregulation Rent Threshold (DRT). The DRT is set by law and is the maximum allowable rent for regulated apartments ($2,700 as of January 1, 2016). The DRT amount may increase or decrease each January 1st by the percentage set by the Rent Guidelines Board for a one year lease renewal increase. Once the legal regulated rent of the apartment exceeds the DRT, the apartment becomes deregulated upon vacancy.
An occupied apartment may also be deregulated when its legal regulated rent reaches the DRT amount and the apartment’s occupants have a total annual income in excess of $200,000 per year in each of the two years preceding the deregulation. Total annual income is the sum of the annual incomes of all persons (other than subtenants) who occupy the apartment as their primary residence on a non- temporary basis. A tenant in a unit that becomes deregulated may be offered a rent at the prevailing market rate.

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