An Owner's Primer on High-Rent/High-Income Deregulation

When legal rents in rent-controlled and rent-stabilized apartments reach a level of $2,500 per month, two things occur. These apartments are now subject to vacancy deregulation. If the apartment is occupied, you are allowed to initiate an annual income certification process and deregulate the apartment if the household income exceeds the definition of “high income” in the rent laws.