Rent Stabilization and Rent control are becoming hot topics here in Illinois as various pieces of legislation are being drafted and proposed. What does it mean for landlords and tenants? The answer is not so obvious. This article is meant to provide some historical context of the concepts as they were implemented in NYC. This context can be used as a starting framework in how to start thinking about these issues.
New York City has 2 systems of rent regulations known as
Christina Rossetti works as Head of Leasing for Bundled Management, a new property management firm in Chicago. Christina also serves on the Board of the NBOA. In Christina’s past life, she worked in the multifamily industry in New York City, which is how she gained special knowledge on this troubling topic.