Rent increase in non-stabilized building?

liam

My wife and I just looked at a new apartment in the neighborhood (down the street from our current one), and were told that it was rent stabilized. A call to the city let us know that this is not the case.

I don't think that the broker was trying to be sneaky, but who knows? We really liked the apartment, but are worried that after paying the broker's fee, and all moving costs, the rent could be increased astronomically after our first year's lease is up. As we are moving to save money, this would be a big old drag.

So my question is, what sort of assurances can we get that this won't happen? Are there any rules about rent increases in non-stabilized apartments?