Rent stabilized units in NYC (~40% of rental stock) are only offered in 1-2 year leases because the Rent Guidelines Board sets the rate for the maximum rent increase by % on a yearly basis. Landlords are required to offer a lease renewal to tenants in rent stabilized units at the end of their 1 or 2 year lease period
Rent stabilized units in NYC (~40% of rental stock) are only offered in 1-2 year leases because the Rent Guidelines Board sets the rate for the maximum rent increase by % on a yearly basis. Landlords are required to offer a lease renewal to tenants in rent stabilized units at the end of their 1 or 2 year lease period