This New NY Rent Bill Will Help Renters in a Major Way

Congress is going on break this Wednesday so, bills will be passed and they will be passed quickly. If they don't make it in by Wednesday, well then they will take a while but passed in time. The New York State Assembly passed legislation to extend and strengthen rent protection for New Yorkers Friday,

This bill will keep families from being forced out of their homes and priced out of the communities they are a part of. The Assembly Majority will continue working to ensure every New Yorker can find quality, affordable housing.”

The legislation includes:

• Extends and makes permanent rent regulation laws
• Repeals high rent vacancy deregulation & high income deregulation
• Repeals vacancy & longevity bonuses
• Reforms preferential rent
• Extends rent overcharge look-back to six years
• Establishes statewide option for the ETPA
• Provides relief from large rent increases for rent-controlled tenants
• Reforms the owner use exception
• Keeps stabilized apartments rented to nonprofits in the stabilization system
• Reforms major capital improvement (MCI) increases
• Reforms individual apartment improvement (IAI) increases
• Establishes stronger housing security and tenant protections statewide
• Reform condo and co-op conversion
• Establishes protections for mobile & manufactured Home (MMH) tenants

To read the full bill click here .