The rent-stabilized apartments in Queens are the perfect choice for long-term sustainable living. Renters of rent-stabilized apartments can feel confident about their rent, not just month-to-month but year to year as well. Whether you're a student looking to live near the campus or a family that needs affordable housing, rent-stabilized apartment buildings offer the best options available. For more information on rent stabilization, go through the entire blog post.
What is a rent-stabilized apartment in Queens, and how does it work?
A rent-stabilized apartment is an apartment in a building that has been registered with the New York State Division of Housing and Community Renewal (DHCR) as rent-stabilized. For an apartment to be rent-stabilized, at least 50% of the apartments in the building must be rent-stabilized, or the owner must have received tax benefits under the J-51 program. Generally, rent stabilization applies to buildings built before 1974 and state subsidies were given to the owner for completed repairs or renovations. The rules for rent stabilization are set by New York State law and get administered by DHCR.
How does rent stabilization keep rents from increasing?
Rent stabilization limits how much an owner can increase rent each year. For most apartments, landlords can only increase rent by a certain percentage, called the rent increase guideline. The rent hiking guideline is set each year by DHCR and considers changes in the cost of living. In addition, landlords can only raise the rent if they give their tenants proper notice and file an appropriate rent stabilization form with DHCR.
What are some benefits of rent stabilization?
Rent stabilized apartments offer stability and predictability for renters, which is especially important for those who plan to stay in one place for a long time. Renters know that their rent will not go up dramatically from month to year or year to year, giving them peace of mind when budgeting. In addition, many rent-stabilized apartments come with amenities like laundry rooms and playgrounds, which private market rent apartments do not always have.
How to find a rent-stabilized apartment in Queens?
Rent stabilized apartments are an excellent choice for long-term, stable living. While rent stabilization does not apply to all buildings in New York, some neighbourhoods have more rent-stabilized apartments than others. For example, suppose you're looking for a rent-stabilized apartment in Woodside Queens or Sunnyside Gardens. In that case, these two areas offer large numbers of rent-controlled and rent-stabilized units that make up over 50% of their rental market. You can uncover whether an apartment is rent-regulated by visiting DHCR's website.
How to rent a rent-stabilized apartment in Queens?
Renting a rent-stabilized apartment can be done through the same process as renting any other kind of apartment. Landlords cannot discriminate against residents based on their income, and all applicants must go through a credit check before getting approved for housing. Suppose you choose to rent from a landlord who advertises online or print media.
Ensure that your application complies with New York State's Fair Credit Reporting Act (FCRA) by ensuring there is no box requiring information about whether you live or work where you're applying. The FCRA prohibits this.
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To rent a rent-stabilized apartment, you will need to prove that you can live in the area legally and show proof of income if your employer does not offer direct deposit or is out-of-state. If your landlord advertises an application fee for rent stabilization units, it must be refunded upon submitting proper paperwork within two business days after receipt by the landlord's agent.
Conclusion
Rent stabilized apartments offer stability and predictability for renters, which is especially important for those who plan to stay in one place for a long time. In addition, rent-stabilized apartments often come with amenities that private market rent apartments do not always have, like laundry rooms and playgrounds. If you're looking for an affordable option close to campus or in a family-friendly neighbourhood, rent-stabilized apartments are the best choice.
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