Assembly Passes Strong Rent Regs. Bill


Yesterday, rent reform advocates and tenants joined elected officials to pass a bill to strengthen and renew the rent laws that cover over one million apartments and 2.5 million New York residents.

From Charles Bagli's article in today's NYTimes:

The bill in the Democratic-controlled Assembly would extend rent regulations until 2016. It would do away with vacancy decontrol, which lets landlords deregulate apartments when they become vacant and their rent exceeds $2,000. It would alter luxury decontrol, which lets owners deregulate apartments when the tenants’ income exceeds $175,000 and the rent is at least $2,000. Those limits would rise to $300,000 and $3,000. The bill would also limit rent increases for new tenants to 10 percent, down from 20 percent.
“Every year more than 10,000 rent-regulated apartments are lost because of loopholes in the rent laws,” the Assembly speaker, Sheldon Silver, said in a statement.
Although a similar bill in the Republican-controlled Senate is unlikely to pass, Democratic legislators are pressing on a number of housing issues. On Monday morning, some Democrats, tenant advocates and members of the Working Families Party met with Mr. Cuomo.
“He kept talking about how desperate the housing situation is,” said one legislator who attended the meeting and asked for anonymity so as not to alienate the governor.