What is the difference between Rent control and Rent Stabilization- Apartments in Brooklyn

 

What is the difference between rent control rent stabilization – apartments in Brooklyn NY

Rent Control:

The rent control program applies to residential buildings constructed before February 1947 in municipalities that have not declared an end to the post war rental housing emergency.  There are 51 municipalities that have rent control including New York City.  For an apartment to be under rent control, the tenant (or their lawful successor such as a family member, spouse or adult lifepartner) must have been living in that apartment continuously since befer July , 1971.  When a rent controlled apartment baecomes vacant it either become rent stabilized or if it is in a building with fewer than six units it is generally removed form regulation.

An apartment in a one or two family house must have a tenant in continuous occupancy since Aparil  1, 1953 in order to abe subject to rent control.  Once it is vacated after that date it is no longer subject ot regulation.  Previously controlled apartments may have been decontrolled on other grounds.

Rent Stabilization:

In NYC, rent stabilized apartments are those apartments in building of six or more units built between February  , 1947 and January 1, 1974.

Tenants in buildings of six or more units built befor Feb 1, 1947 and who move in after June 30, 1971 are also covered by rent stabilization.

There is a category of rent stabilized apartments where buildings with three or more apartments constructed or extensively renovated since 1974 with special tax benefits.  These buildings are stabilized only while the tax benefits continue.

There are some exceptions- refer to New York State Division of Housing and Community Renewal .

New York City’s rent stabilization system was enacted in 1969 when rents were rising sharply in many post war buildings. Rent stabilized tenants are protected from sharp increases and have the right to renew their leases.  The rent Guidelines Board sets the allowable percentage increase for renewal leases each year.

When you are ready to buy or sell real estate in Brooklyn, feel free to contact me at 917-861-9166.

Michele Cadogan

Fillmore Real Estate

Licensed Real Estate Associate Broker

www.brooklynhomesbymichele.com

Brooklyn Real Estate Home Buyers

– interest rates are at an all time low and there are many Brooklyn Real Estate properties available.

Brooklyn Real Estate Home owners

If you are Thinking of Selling Your Brooklyn Real Estate Home

and need to know

how much your Brooklyn Real Estate Home Is Worth

and you are  looking for an agent who will give you personal service, give your Brooklyn NY  home maximum marketing  exposure to get  it sold :  Call me Michele Cadogan   for a Free Market Analysis of your Brooklyn New York Home.

Not ready to buy yet and looking for a Brooklyn apartment to rent, call me @ 917-861-9166

 

So, Whether you are Thinking of buying , selling  a Brooklyn Real Estate home  for sale , looking to rent an apartment in Brooklyn or simply want to know how is the Real Estate Market In Brooklyn regarding recently  homes sold in Brooklyn NY call me.

917-861-9166 (cell)

Michele Cadogan,SFR

 

how much is my brooklyn home worth, brooklyn real estate, real estate agents in brooklyn, brooklyn homes

www.brooklynhomesbymichele.com

917-861-9166

Fillmore real Estate

2926 Ave J, Brooklyn  New York, 11210

718-253-9600

Licensed Real Estate Associate Broker

Brooklyn New York Neighborhoods

 

 

For Free Booklets Buying A Home in Brooklyn Does Not Have To Be Stressful , Selling Your Brooklyn Home Does Not Have To Be Stress or Short Selling Your Brooklyn Home – Short Sales Payoff Don’t Have To Be Stressful Call me at 917-861-9166 (cell)

Michele Cadogan

 

#BrooklynRealEstate

#MicheleKnowsBrooklynRealEstate

#BrooklynHomes

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About Cadogan's Brooklyn Real Estate Blog

Brooklyn New York Real Estate Associate Broker Michele Cadogan is a Brooklyn NY real estate professional who understands the Brooklyn Real Estate Market. She makes the process of buying and selling real estate in Brooklyn a good experience. A long time Flatbush Brooklyn resident, she has a tremendous appreciation of the borough, its great history and its diverse communities. With a degree in Political Science and Economics she brings a balance perspective to the Brooklyn NY real estate experience. Experience in marketing Brooklyn New York homes to local, national and global buyers, clients can always expect quality service Truly a professional in a people oriented business. So, when you are looking for a real estate agent in Brooklyn to help you buy or sell a Brooklyn Real Estate home call Michele. Brooklyn homeowners if you want to sell your home call Michele for a Free Market Analysis of your Brooklyn home at 917-861-9166 Not ready to buy or sell a home in Brooklyn and simply looking to rent an apartment in Brooklyn or just curious about the price of home in your Brooklyn neighborhood. Call : Michele Cadogan Fillmore Real Estate Licensed Real Estate Associate Broker 917-861-9166 Your Brooklyn Real Estate Professional Brooklyn Real Estate homes for sale #BrooklynRealEstateForSale #MicheleKnowsBrooklynRealEstate #BrooklynHomesForSale
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