Why rent laws matter.
A tenant's apartment is the tenant's home. But if Rent Stabilization is taken away from an apartment, that means the tenant has no right to have the lease renewed when it expires, and the landlord can charge whatever rent he or she wants to. Tenants would have no protection.
Thanks to New York's rent protection laws, you can have a stable home even if you don't own a house or a co-op or condo. It means tenants can have real roots in the community. And neighborhoods like ours can have the exciting diversity that makes New York work.
The New York State Rent Stabilization law expires on June 15. The Governor and the State Assembly wanted to include the renewal of the rent laws as part of the state budget, the Senate leadership would not agree. The Governor's support will be crucial to help us meet our goals.
In April, the Assembly passed its omnibus housing bill (A. 2674-A), by a vote of 92-54. The bill, of which I am a co-sponsor, incorporates many long-time priorities into one piece of legislation. These include:
- extending Rent Stabilization and Rent Control for five more years;
- repealing vacancy decontrol (destabilization)
- repealing the Urstadt law, which currently prohibits New York City from enacting its own rent laws;
- requiring more disclosure to new tenants about improvements that increase rents;
- allowing MCI increases to expire once improvements have been recouped;
- reclaiming deregulated units under certain circumstances;
- raising the threshold for "luxury decontrol" to a rent of $3,000, and raising the threshold for "high-income decontrol" to $300,000.
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