The Rent Stabilization Trap

As landlords continue to pile on the concessions, some are lowering “official” rents to “preferential” rents, making their units much more attractive. Don’t be fooled, however, into thinking that “rent stabilized” means your rent will only increase 4% next year. These rules apply to the official rent of the apartment, not the preferential rent.  Make sure you negotiate this point into your lease before you sign, or you may be in for an unpleasant surprise next year.