Rent Controlled Apartment Rentals

These are apartments in which the landlords are prohibited by law from raising rent more than the amount specified by law. You can find these apartments in many large cities in the U. S. and numerous countries. One such large city is New York. In these particular cities the laws only apply to residents of some buildings, not all apartment buildings. The laws typically apply to only apartment buildings that were in existence during the time period 1971 when controls and price fixing that were set by President Richard Nixon. They also applied to the buildings that existed during the post-World War II housing shortage.

When you live in one of these types of apartment rentals the laws will not allow the landlord from upping the rent more than a particular dollar percentage or amount or above a particular price either when the lease runs out or on an annual basis. These laws have established a maximum ceiling price and because of this the rent controlled apartment rentals are lower than other neighborhood rentals. .

Rules for rent controlled apartment rental

There are certain rules that normally apply to rent controlled apartment rentals. This limits the protections given by rent control laws. Generally, only the renter, or owner, who has lived in the apartment when the rent control laws were put in place or their direct descendants, is protected by these laws. What this means is that if the apartment was rented and lived in by the original renter during the time period when the laws for rent control was passed and continues to live there or hands it down to their heirs the laws still apply. If the person tries to sublease to another person or vacate the apartment then the landlord can raise the rent.

Rules for rent controlled apartment rental

There are some cases for apartment finder where the entire building and not just the apartments of those who have lived there when the laws were passed is rent controlled. If this is the case then if a tenant subleases their apartment to someone else or moves out the rent cannot be raised for the new tenant. Living in a rent controlled apartment can help to protect tenants who are not able to afford the fast rising rental prices in metropolitan or urban areas. It protects them against landlords who want to raise the rent higher than the tenant can afford when their lease is up.

Things to consider

Rent controlled apartment rentals are in very high demand, especially in cities like New York where rent can be over a thousand dollars a month so this is why many are glad to live in rent controlled apartment rentals.Rent controlled apartment rentals do place how much landlords can make, which is why landlords do not like these laws.

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