New York City has a system of rent stabilization that is meant to provide affordable housing to the working class. The rent stabilization program limits the rents a landlord can charge and caps the annual rate of rent increases. Landlords must also offer renewal leases and required services to tenants, who can be evicted only for specific reasons set forth in the law. The subject is controversial and leads to many landlord-tenant disputes. This article provides an overview of the rent stabilization program in New York City.
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