People will do crazy things to get their hands on a rent controlled apartment, from pretending to be someone’s relative to pretending their dead relative that owned the home is in fact, still alive and kicking. A book by Robert Fogelson entitled The Great Rent Wars: New York 1917-1929, explains the tumultuous story of the many attempts to fix a terrible housing situation before rent control. Enacted 70 years ago, the story of rent regulations started with a government that could care less about the issues happening with housing.

A city with a million tags and titles, and a glossy lifestyle, attracts millions every year from across the globe to visit, move in, and buy a spot in high-rises across the city. Once they dive into the reality of the real estate market is when they feel the pinch in their pockets.

While the case between the Upper West Side landlord and his rent stabilized tenants sits in front of the Supreme Court pending further action, the Luxury Rentals Manhattan blog thought this would be a great opportunity to review the difference between the real estate mysteries that are rent control and rent stabilization. Rent control and rent stabilization, both of which fall under the category of rent regulation, refer to laws or ordinances that set price control on the renting of residential building. Historically, New York State has one of the longest history of rent regulation in the country and subsequently the vast majority of rent regulated units are located in New York City as well.