Property Management
NYC Rent Control (as distinct from Rent Stabilization) applies to buildings:
ABuilt after 1974 with more than 6 units
BBuilt before 1947 with continuous tenancy since before 1969✓ Correct
CAll buildings in the five boroughs regardless of age
DOnly publicly owned housing projects
Explanation
NYC Rent Control applies to a dwindling number of apartments: those in buildings built before February 1, 1947, where the tenant (or their successor) has been living there continuously since before July 1, 1969.
People Also Study
Related New York Questions
- In New York City, rent stabilization applies to most residential rental apartments in buildings:Property Management
- New York City Rent Stabilization Law applies primarily to:Property Management
- In New York City, the Rent Stabilization Law primarily applies to:Property Management
- Under New York's rent stabilization laws, a landlord's right to increase a stabilized tenant's rent is limited to:Property Management
- A building in New York has 12 apartments, each renting for $2,000/month. The gross rent multiplier (GRM) for similar buildings is 14. What is the estimated value?Real Estate Math
Key Terms to Know
Earnest Money
A deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
Option ContractA contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
Study This Topic
Practice More New York Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free New York Quiz →