Requires the stabilization code in the city of New York to provide for the automatic renewal, at the option of the owner, of leases not timely renewed.
STATE OF NEW YORK
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7732
IN SENATE
June 15, 2012
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Introduced by Sen. YOUNG -- read twice and ordered printed, and when
printed to be committed to the Committee on Rules
AN ACT to amend the administrative code of the city of New York, in
relation to requiring that the stabilization code provide that upon
the failure of the tenant to timely renew his or her lease or rental
agreement, such lease or agreement may be deemed to have been renewed
The People of the State of New York, represented in Senate and Assem-bly, do enact as follows:
1 Section 1. Subdivision c of section 26-511 of the administrative code
2 of the city of New York is amended by adding a new paragraph 15 to read
3 as follows:
4 (15) provides that, notwithstanding the provisions of any other law,
5 where the tenant fails to timely renew an expiring lease or rental
6 agreement offered pursuant to this law, and remains in occupancy after
7 expiration of the lease, such lease or rental agreement may be deemed to
8 have been renewed upon the same terms and conditions, at the legal regu-
9 lated rent, together with any guidelines adjustments that would have
10 been applicable had the offer of a renewal lease been timely accepted.
11 The effective date of the rent adjustment under the deemed renewal lease
12 shall commence on the first rent payment date occurring no less than
13 ninety days after such offer is made by the owner. Notwithstanding the
14 foregoing, an owner may elect to commence an action or proceeding to
15 recover possession of a housing accommodation in a court of competent
16 jurisdiction where the tenant, upon the expiration of the existing lease
17 or rental agreement, fails to timely renew such lease in the manner
18 prescribed by law.
19 § 2. This act shall take effect on the thirtieth day after it shall
20 have become a law; and provided that the amendments to section 26-511 of
21 chapter 4 of title 26 of the administrative code of the city of New York
22 made by section one of this act shall expire on the same date as such
23 law expires and shall not affect the expiration of such law as provided
24 under section 26-520 of such law.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD16284-01-2
