NYC What is the difference between a rent stabilized apartment and a rent controlled apartment

looking to gain information on purchasing an apartment in the five boros
In Buying Property - Asked by Derek O. - Dec 12, 2013
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Jonathan O.
Property/Asset Manager
Clifton, NJ

NYC rent regulation programs is comprised of Rent Control & Rent Stabilization. Rent Control is the older of the two and covers buildings constructed before 1947. Rent Stabilization covers buildings built between 1947 and 1974. As well as apartments that have been removed from rent control.

Dec 13, 2013
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Sekander M.
Researcher
Chigwell, EX

Rent control or rent stabiliser there is not much difference. Rent control is governed under the Property Rent Act . However this Act is very old and therefore it required reform which changed the old Rent Control act into Rent Stabiliser.
Please correct me if I am not right.
SAM

Dec 15, 2013
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Henry P.
Broker/Agent
New York, NY

Rent Control-Built before 1947 tenant or family member in apt. continuously from 7/1/1971.
Rent Stabilized-Six or more units built from 2/1/47-1/1/74
A Rent Stabilized building is better then a Rent Control building. I will never buy a building if it has a rent control tenant in the building. Feel free to contact me if you are looking for an investment property.

Dec 15, 2013
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