An unregulated agreement gives no additional statutory protections to the customer. They can be signed on or off trade premises and there is no requirement to show an APR. There are also no statutory termination or repossession rights or protections for the customer.
Unregulated apartment. an apartment in a private home or other apartment that is not subject to rent regulation.
New York City Council Votes to Declare Continuing Housing Emergency to Maintain Rent Stabilization Laws. City Hall – Today, the New York City Council voted to declare that there is an ongoing housing emergency to extend the Rent Stabilization Law from expiring on April 1, 2024, to April 1, 2027.
Rent control and rent stabilization are the two types of rent regulation in New York State. An apartment not subject to these regulations is considered “unregulated.” An individual tenant's rights will depend, in part, upon which regulations apply, although some apartments may fall under more than one category.
Examples of an illegal conversion include: Creating a rooming house (single room occupancy) or dividing an apartment into single room occupancies. Adding an apartment in the basement, attic or garage without obtaining approval or permits from DOB.
For a one-year lease beginning on or after October 1, 2024, and on or before September 30, 2025: 2.75% For a two-year lease beginning on or after October 1, 2024, and on or before September 30, 2025: 5.25%