Rent Regulation in New York City
A Briefing Book

Table of Contents

[footnote numbers within text are indicated by asterisks]


Acknowledgments Sources Limitations About CTRC About the Authors

1. The Purposes, Accomplishments, and Limits of Rent Regulation

Moderation of Rents Eviction Controls Maintenance of Services The Limits of Rent Regulation Rent Regulation Does Not Increase the Housing Supply Rent Regulation Does Not Assure Affordability Rent Regulations Are Not a Complete Housing Strategy Notes to Chapter 1

2. Rent Regulated Tenants and Landlords: Who Are They?

The Tenants Where Rent Regulated Tenants Live Race and Ethnicity of Rent Regulated Tenants Age of Rent Regulated Tenants Incomes of Rent Regulated Tenants The Landlords Concentration of Ownership Financial Objectives Notes to Chapter 2

3. The Effectiveness of Rent Regulation in New York City

Are Rent Levels Being Moderated? Tenant Affordability Landlord Profitability Are Eviction Controls Working? Informed Tenants Enforcement What Effect Does Rent Regulation Have on Housing Conditions? Crowding Building Conditions Maintenance Deficiencies Neighborhood Conditions Notes to Chapter 3

4. Common Myths About Rent Regulation

Myth #1 Rent Regulation Impedes Construction of new Housing Myth #2 Rent Regulation Causes Abandonment Myth #3 Rent Regulation Erodes the Tax Base Myth #4 Rent Regulation Only Benefits the Rich Myth #5 All of New York City's Housing is Rent Controlled Myth #6 NYC's rents are frozen at World War II levels Notes to Chapter 4

Appendix A: The Housing Supply in New York City

Overview of the City's Housing Supply Categories of Rental Housing Is There Still a Housing Shortage? Definition of a Shortage Vacancy Rates A Worsening Shortage

Appendix B: The Rent Regulation System in New York City

A Brief History New York State Rent Control City Rent Control The Rent Stabilization Law of 1969 Maximum Base Rent System Senior Citizen Rent Increase Exemption Vacancy Decontrol Emergency Tenant Protection Act of 1974 Omnibus Housing Act of 1983 The Current System Rent Control Rent Stabilization Enforcement Notes to Appendix B