Under the Housing Stability and Tenant Protection Act of 2019 (“HSTPA”), apartments that are rent stabilized remain permanently regulated. Apartments cannot be removed from rent stabilization on the basis of rent level, tenant income, or vacancy status.
Rent increases for stabilized apartments are limited to amounts approved by the Rent Guidelines Board. Additional surcharges for building-wide or apartment-specific improvements are capped, amortized over extended periods, and expire after thirty (30) years. If a tenant is paying a preferential rent below the legal regulated rent, that lower amount becomes the lawful base rent for all future renewals during the tenancy.
Landlords must provide tenants with advance written notice before significant rent increases or non-renewals. The required notice period is thirty (30) days if the tenant has lived in the apartment for less than one year, sixty (60) days if the tenancy has lasted between one and two years, and ninety (90) days if the tenant has occupied the apartment for more than two years.
Issues of Rent Stabilization remain highly complex and time-consuming. Parties are strongly encouraged to consult with an attorney before proceeding. We offer complimentary, no-obligation consultations and you are welcome to schedule your consultation by calling us at 212-921-1600.
