Rent stabilization, also know as “rent control,” is a price ceiling mechanism that originated in early 20th century urban reform policies. These price control policies have been enacted in various cities all over the world as a protection against landlords using rent hikes or threats of rent hikes abusively.

There are several ways that rent stabilized apartments protect against tenant abuse. First, they keep landlords whose buildings have suddenly become more desirable from getting rid of tenants they view as “undesirable,” but who haven't violated the terms of their lease in such a way that they can be legally evicted. This primarily serves to prevent against housing discrimination in neighborhoods that have recently become gentrified.

Another reason that cities make apartments rent stabilized is that rent hikes can be used as leverage against tenants as a way for a landlords to avoid making legally mandated repairs. So-called “slum landlords” in cities without rent stabilization are known to threaten their tenants that if they complain about something as basic as a lack of hot water or a broken window, they will have their rents raised. For many people, the costs associated with moving (including the time that it takes to find a new apartment,) are so high that they would prefer to live in an apartment that isn't up to code than challenge the landlord on the issue.

There are over 100 municipalities with some form of rent stabilization in the United States, including New York City, Los Angeles, Oakland, Berkeley, San Francisco, Santa Monica and Newark, among others. Boston abolished rent stabilization in 1997 and has since been working to retool the law with the intention of eventually re-establishing it.

One of the common misconceptions about rent stabilization is that it protects new tenants from having to pay more than the previous inhabitants of an apartment. While this used to be the case in many cities, most rent stabilization laws now only protect tenants from rent hikes that exceed the rate of inflation from the time they sign their first lease. That means that you're no longer likely to find $100 apartments on the Upper East Side of Manhattan.

If you live in an up-and-coming neighborhood for a long period of time though, you can still benefit substantially from rent stabilized apartments. Check into the laws in your area and know your rights as a tenant— most tenant abuse can be prevented if the tenants know their rights. If your lease is ending and you think that the landlord has set the new rent too high, you may have legal remedies. If you think you may have been a victim of price gouging in the past and there are rent control laws on the books in your city, you may also be able to sue to recoup this money.