What is a “Rent Stabilization Lease”?
Rent stabilization is a form of control over housing pricing, originating
in the first half of the 20th century, that’s often described as a form of insurance
for tenants against unreasonable rent increases.
Secure your future…
How Long is the lease period?
Rent Stabilization Leases are for a three-year period.
How Do I Qualify for a “Rent Stabilization Lease”?
- Must have a 685 + credit score.
- Provable income, positive rental history and pass our complete background and credit check.
- Tenants must agree to sign a three-year lease agreement.
- Tenants must earn 3x of the highest rental rate to qualify for the Rent Stabilization Lease. This will be the rental rate that the tenant will be paying for the last six months of the lease. To calculate the amount of the early termination rate, add $300 to the base rental rate which is the amount that they will be paying for the first 6 months.
- Rent will increase by $50 every 6 months over a three-year period.
- For the Rent Stabilization, Three Year lease the tenant will pay the First month’s rent, security deposit, and the early termination fee.