With rent-stabilized apartments rare, would-be tenants face co-op board-like scrutiny

July 06, 2012 09:00AM

Even as new rules took effect last year, creating even more rent-stabilized apartments in New York City, the units remain elusive since tenants are even more likely to stay put once they secure a rent-stabilized space, according to the New York Times.

While nearly half of all apartments in Manhattan are rent-stabilized, they are still incredibly difficult to lease, with prospective tenants facing “nearly the same level of scrutiny as condo or co-op buyers,” real estate agents told the Times.

“I have people all the time who come to me and ask me to find them a rent-stabilized apartment,” Alexis Fleming, a broker at Citi Habitats, told the Times. “I tell them good luck. It is a needle in a haystack.” [NYT]