Finding a Rent Stabilized Apartment in NYC
Talking renting apartments in NYC has become an everyday occurrence for most New Yorkers since more than 65% of residents are renters. After all, this is a costly metropolis especially if you are considering buying a property. Hence, most people opt for renting, but there is a catch. Rents are really high but a rent stabilized apartment in NYC offers much better conditions for renters. Thus, you are just left to find one and save yourself a lot of money among many other things as well. In case you have difficulties in finding a rent-stabilized apartment you may ask your professional moving company for help or else use our advice. Hopefully, we will be of great help in locating a rent stabilized apartment most suitable for you and your family.
What tips to follow to find a rent stabilized apartment in NYC?
According to some statistics, there are more than a million apartments that are rent stabilized in NYC. Though there are so many of them, we must point out that they are quite difficult to find. In case you wonder why the answer is very simple. When someone leases an apartment there is a slight chance they would give it up. Therefore, we are to provide several tips on how to get a rent-regulated apartment in NYC.
- Obtain a list of rent stabilized buildings
- Go through the listing sites
- Get an apartment through the NYC Housing Connect
Lists of rent stabilized buildings
You should use a zip code and search the Division of Housing and Community Renewal (DHCR) and get a list of buildings that have rent stabilized apartments in a particular neighborhood where your Inwood movers should execute your relocation. Bear in mind that you get the list of buildings not teh list of apartments. Maybe a particular building has only one rent stabilized apartment. Thus, after getting the list of buildings you are to plug the addresses into apartment listing sites and check if there are vacant apartments.
How can a building be rent stabilized?
In order to find a rent stabilized building you should know what conditions the building must fulfill.
- First of all, it should be built from 1947 to 1974.
- It must contain 6 or more units.
- The building mustn’t be co-ops or condos.
- The rent must be lower than $2,774.76 in case the tenant initially moved between January 1, 2019, and June 13, 2019.
Of course, there are exceptions to these rules. For instance, there are rent stabilized buildings that are constructed after 1974. This is due to certain tax abatements. Moreover, you may get a rent stabilized unit in a co-op building. This is usually the case with apartments whose tenants lived in that building before the conversion.
What listing sites can you use?
There is a variety of listing sites where you can search for rent stabilized units. For instance, some of the best are StreetEasy, renthop, and openigloo. By using them find out what is accessible. Your Harlem movers can be of great help too. Still, certain landlords don’t always mention in advertisements their apartment is rent stabilized. Of course, they are not obliged to. Hence, rely on your thorough search.
Use NYC Housing Connect
This is mostly known as New York’s affordable housing lottery. These types of apartments are usually in new buildings with popular amenities such as outdoor spaces, gyms, and pools. What is interesting to note is that these buildings are usually under construction when you apply for an apartment. Unfortunately, the process may take a long time.
Where are usually rent stabilized buildings located in NYC?
In most cases, these buildings are walkups or prewar elevator buildings that are located north of 96th Street in Washington Heights, Inwood, and some parts of Harlem. Furthermore, find rent stabilized apartments in small and multi-family buildings in South Bronx, the eastern parts of Brooklyn, Crown Heights, and Queens. All you are left to do is to find contact information and email or call to check if there are vacancies. Then, your movers Brooklyn offers are on the move.
What is the main benefit of rents stabilized apartments?
Certainly, one of the greatest benefits is affordability. Unlike other apartments, living in NYC apartments that are rent stabilized gives you more rights. Nevertheless, you must know that people who renew their leases now through September 30, 2023, will witness the highest increase in rents in nearly a decade. Thus, the Rent Guidelines Board approved the increase of 3.25% on one-year leases and 5% on two-year leases. Nevertheless, even this increase is not that high as opposed to other market-rate apartments.
Why not mention other benefits as well?
- updates and improvements – You have the right to a working updated apartment.
- subletting – If the apartment is your primary residence you may sublet it to someone.
- lease renewal rights – Renew your lease every year or every two years.
- protection against bankruptcy– As a tenant, you still have the right to the apartment.
Be persistent and you’ll find the apartment most suitable for you
Altogether, it requires great effort and time to find a rent stabilized apartment in NYC. Still, it is possible. Just follow our advice. The list of rent stabilized buildings may be of great help. Also, the listing sites are there to help you explore the buildings in each neighborhood. Of course, don’t neglect the importance of NYC Housing Connect. Follow the basic features each rent stabilized apartment must have. Finally, be certain you’ve made the right choice since you will experience great advantages of renting these apartments. After all, saving money in NYC is crucial. Not to mention other things that will facilitate your staying in this amazing metropolis.