You May Live In A Rent-Stabilized Apartment & Not Even Know It

Checkbook1_RockieNolan_R2Photographed by Rockie Nolan.
The sky-high cost of living in New York City isn't exactly breaking news. And, if you've managed to find an affordable apartment in a great neighborhood, you should probably plan on never moving — ever. But, for ailing (read: broke) New Yorkers, there's a glimmer of hope. Apparently, many apartments are supposed to be rent stabilized, but landlords have been illegally raising the prices, according to New York's Tenant Protection Unit.
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DNAinfo reports that over the past two years, more than 28,000 apartments have been restored to their rightful, rent-stabilized status. Though units and buildings can transition to market rate, this usually only happens when significant renovations or updates are made. Instead, some owners simply waited for rent-stabilized tenants to move out, then jacked up the cost of living without making improvements — and then hide the apartment's wallet-friendly status from potential renters.
Fortunately, there are resources for tenants to find out this vital information. You can start by getting a free copy of your rent history from the Division of Housing and Community Renewal. So, even if you find that your rent is supposed to be market rate, you can at least sleep better at night knowing you're not being had.
Head over to DNAinfo, and check out the other actions you can take in finding out if your rent is actually too damn high. (DNAinfo)
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