NYC rental jargon, A–Z.

Glossary

421-a

A property tax exemption program for new construction, often tied to some rent-stabilized units in the building.

Amenity fee

A charge for building perks like a gym or roof deck, separate from rent.

Broker's fee

A payment to a real estate broker for helping find or show an apartment. Who owes it depends on who hired the broker — see the FARE Act.

Co-op / condo

Two different ownership structures for apartment buildings; most rentals are neither — they're owned by a landlord or management company.

DHCR / HCR

NYS Homes and Community Renewal (formerly the Division of Housing and Community Renewal) — the state agency overseeing rent regulation.

Doorman building

A building with staff at the entrance; usually a higher rent tier.

Elevator building

A building with an elevator, as opposed to a walk-up.

Fair market rent

The general market rate for a comparable unregulated apartment, used as a benchmark in some rent-stabilization contexts.

Flex space / flex wall

A temporary, non-structural wall added to divide a large room into an extra bedroom — not a legal room addition.

Good Cause Eviction

A New York law limiting evictions and certain rent increases for many market-rate tenants.

Guarantor

Someone who co-signs a lease and agrees to cover rent if the tenant can't.

HPD

NYC Housing Preservation & Development — the city agency that tracks building complaints, violations, and registrations.

Junior 4 (J-4)

A one-bedroom apartment with an extra small room, often marketed as a two-bedroom.

Line

A specific apartment layout that repeats on multiple floors of a building (e.g. "the B line").

Mitchell-Lama

A state and city program for middle-income affordable housing, mostly in co-ops and rentals built decades ago.

No-fee listing

A listing with no broker fee owed — usually because the landlord pays the broker, or there's no broker involved.

Preferential rent

A rent charged below the apartment's higher "legal regulated rent" — the legal rent can matter a lot at renewal.

Prewar building

A building built before World War II, often with features like higher ceilings, thicker walls, and radiator heat.

Rent stabilization

A regulatory system that limits rent increases and gives renewal rights to tenants in covered apartments.

Security deposit

Money held by the landlord against damage beyond normal wear and tear, generally capped at one month's rent and refundable.

Sublet

Temporarily renting your apartment to someone else while you remain on the lease and responsible for it.

Studio

A single main room combining living and sleeping space, with a separate bathroom (and often a separate kitchen area).

Superintendent ("super")

The person responsible for building maintenance and repairs, usually living on-site or nearby.

Walk-up

A building with no elevator — you walk up the stairs to every floor.