More than one million NYC rental apartments are considered to be Rent Stabilized, which means that the landlord may only raise the rent with each one- or two-year lease renewal by a certain percentage, dictated each year by city government after negotiations between tenants groups and the Rent Stabilization Board. Tenants in Rent Stabilized apartments also enjoy an automatic lease renewal option, and must be allowed to continue to live in their home unless the landlord can show cause that the tenant has violated the terms of the lease. See also: Budget Rental Apartments in New York City.
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