Viewing NYC Articles Categorized Under Rent Control

Disheartening Interactive Map Shows the NYC Neighborhoods Where Minimum Wage Workers Can Still Afford to Live

2015-12-11T08:21:34-05:00

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Disheartening Interactive Map Shows the NYC Neighborhoods Where Minimum Wage Workers Can Still Afford to Live

2015-12-11T08:21:34-05:00

New York City real estate website Street Easy recently published a disheartening interactive map which shows the neighborhoods in which a person earning minimum wage can afford an apartment.

Using full year 2014 data, we analyzed the number of rental listings that would be affordable to a person making $8.75 per hour, 40 hours a week, 52 weeks a year. For this analysis, we assumed that a 40 percent rent burden would constitute “affordable” rent (meaning 40 percent of the earner’s gross annual income goes to rent). We also assumed that a studio or one-bedroom unit would be occupied by one person, a two-bedroom unit would be occupied by two people, and a three-bedroom unit would be occupied by three people (all of whom are making minimum wage and working the same number of hours as stipulated above).

According to their analysis of the apartments in the City, a mere 575 listings were affordable across all neighborhoods in 2014, representing a dismal 0.03 percent of all listings.

See what the affordability is in your neighborhood here

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Infographic Simplifies the City's Complicated Rent Control and Rent Stabilization Rules

2015-08-26T11:24:22-04:00

Real estate search company Trulia recently published a great article about rent control and rent stabilization in the City. As part of the article, Trulia created these great infographics simplifying the rules to tell if your place is or is not regulated, and a map showing regulated percentages broken down by neighborhood in Manhattan.

Knowing the difference between rent control and rent stabilization in New York City, it is clear that getting a rent-controlled apartment as a new renter is pretty much impossible. But this isn’t the case for a rent-stabilized apartment. So, where can you find this unicorn of a rental home?

Read through the full article for more info.

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New Website Lets You Easily Check if Your Building is Rent Stabilized

2015-03-03T16:47:45-05:00

In NYC, if you are lucky enough to live in a rent stabilized building, a cap is set on the maximum allowed rent increase rates each year, and is determined by the Rent Guidelines Board. It is pretty tough to find out if a building is rent stabilized on your own though, so a new website called AmIRentStabilized.com has been created to help you answer just that.

The website will tell you if your building is on the city's list of addresses with units still on the rent stabilization rolls. While it can't tell you if your specific unit is one of them, it will help you navigate through the process of tracking that information down. The site contains links to different state agencies to help you get confirmation of your unit's status as well as forms to fill out a complaint if you're being overcharged.

For more info on the site or it's creator, Chris Henrick, visit the full article on DNAinfo.

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