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In the United States, rent control refers to laws or ordinances that set price controls on the rent of residential housing to function as a price ceiling. [1] More loosely, "rent control" describes several types of price control: "strict price ceilings", also known as " rent freeze " systems, or " absolute " or " first generation " rent ...
The Local Law 30 of 1970 introduced a new method of rent control price calculation, based on the Maximum Base Rate, which adapted to the changing costs faced by landlords, allowing them to pass those costs on to renters. A 1971 law took away New York City's ability to regulate rents and gave the power to the state government.
A lower-rise apartment building on the left side of the Avenue of the Americas in Manhattan, juxtaposed next to a skyscraper apartment building. An apartment (North American English), flat (British English, Indian English, South African English), or unit (Australian English) is a self-contained housing unit (a type of residential real estate) that occupies part of a building, generally on a ...
nyc.gov/nycha. The New York City Housing Authority ( NYCHA) is a public development corporation which provides public housing in New York City, and is the largest public housing authority in North America. Created in 1934 as the first agency of its kind in the United States, it aims to provide decent, affordable housing for low- and moderate ...
Rental value is the fair market value of property while rented out in a lease. More generally, it may be the consideration paid under the lease for the right to occupy, or the royalties or return received by a lessor ( landlord ) under a license to real property . [1]
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