It is possible for landlords and investors to lease rent-stabilized apartments above their legal rents, and that began through the implementation of New York’s Private Housing Finance Law (PHFL) Section 610 program. Section 610 was enacted in late 2022 as a targeted relief measure for certain rent-regulated housing. Critically, the policy was intended to preserve affordability by allowing landlords to increase their incomes from building operations without requiring voucher tenant rent contributions to increase.