rent stabilization


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rent stabilization

See rent control.

References in periodicals archive ?
The survey found particularly solid support among African-American and Hispanic voters - 89% and 88%, respectively - including 74% of both groups "strongly" agreeing with the survey question: "How strongly do you agree or disagree with the following statement: New York City and New York State elected officials should support rent stabilization.
The couple appealed after a lower court sided with the city, which in a legal brief called Rent Stabilization Law a "legitimate exercise of government police power" that neither "requires an owner to suffer a permanent physical invasion" of his or her property, nor takes away its profitability.
The Mayor's approach is clearly distinguishable from, and superior to, the other large source of affordable housing: the rent stabilization system which places the subsidy burden on the backs of property owners with potentially disastrous consequences, such as the housing deterioration and abandonment witnessed in the past," Freund said.
The Rent Stabilization Ordinance, commencing in 1979, followed by confiscatory capital improvement pass-through restrictions and relocation assistance requirements, started the downward spiral by eliminating the ability of many owners to maintain their older property.
the Real Estate Board of New York, and the Rent Stabilization Association of New York City Inc.
Rent stabilization often significantly diminishes a rental building's cash flow and consequently can seriously dampen its value.
NORTH HOLLYWOOD - Tenants of a housing complex scheduled for demolition won both time and money from the development's owner after the city ruled that the units should be covered by the municipal Rent Stabilization Ordinance, officials said Wednesday.
Approximately 72% of the units are subject to rent stabilization while the remaining are free market.
Asturias said the city's hands are tied because the Mobile Home Rent Stabilization Ordinance allows the owner to raise rents to pay for capital improvements.
While the survey shows a strong increase in the City's housing stock, the vacancy rate is significantly lower than the 5% threshold mandated by State and City laws to justify the continuation of rent control and rent stabilization.
Since the conversion plans predates their move-in date, most of the renters are not eligible for financial assistance under terms of the city's Rent Stabilization Ordinance.