Rent Regulation in New York City
A Briefing Book

Table of Contents

[footnote numbers within text are indicated by asterisks]

Introduction
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

Bibliography