Saturday, July 7, 2012

Rent Stabilization

According to a study released this spring by the Furman Center for Real Estate and Urban Policy at New York University, many who enjoy the benefits of rent stabilization are not low-income households.

In Manhattan, nearly half of all rental apartments are rent-stabilized. And last year, lawmakers in Albany strengthened protections for tenants, raising the annual income limit for families to $200,000 from $150,000 in order to qualify for a rent-stabilized apartment. In Manhattan, the new rules affect nearly 250,000 apartments.