I don't know how prevalent this is but from my experience, rent stabilization is largely gamed by many landlords.
My lease in Manhattan is for about 60% higher than what we are paying. We are then given a "preferential rent" rider which allows us to pay what we pay... This I assume is so the landlord keeps the building at his rent stabilization maximum which are about $3k higher than market rate. This is probably happening everywhere (at least in my last 3 apis) and it really amounts to no stabilization at all...
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I don't know how prevalent this is but from my experience, rent stabilization is largely gamed by many landlords.
My lease in Manhattan is for about 60% higher than what we are paying. We are then given a "preferential rent" rider which allows us to pay what we pay... This I assume is so the landlord keeps the building at his rent stabilization maximum which are about $3k higher than market rate. This is probably happening everywhere (at least in my last 3 apis) and it really amounts to no stabilization at all...