New York Rent Control and Stabilization Laws 2024: Complete Guide

# New York Rent Control and Stabilization Laws 2024: Complete Guide New York's rent regulation system features both rent control and stabilization programs protecting tenants from excessive increases. ## Rent Stabilization Coverage - Buildings with 6+ units built before 1974 - Buildings receiving tax benefits - Voluntarily enrolled buildings - 2024 increases: 3% (1-year), 2.75% (2-year) ## Housing Stability Act Changes - Eliminated vacancy bonuses - Limited apartment improvements to $15,000/15 years - Restricted preferential rent increases - Enhanced tenant protections ## Tenant Rights - Automatic lease renewal rights - Good cause eviction protection - Security deposit maximum: 1 month's rent - Interest required if held over 1 year ## Major Capital Improvements - Building-wide improvements required - DHCR approval necessary - Limited to 6% of monthly rent annually - Minimum 7-year useful life ## Enforcement - Rent rollbacks for overcharges - Treble damages for willful violations - Civil penalties up to $10,000 - 6-year lookback period *New York rent law is complex and frequently changing. Consult qualified attorneys.*