Apartment Rentals in New York City – what you need to know.
Posts Tagged ‘destabilization ’
Despite rent regulation, New York rent burdens remain unaffordable for most low-income households.
Mr. Paterson submitted to lawmakers a plan to amend and extend the state\’s rent laws, which are set to expire next June. In addition to extending regulations another eight years, the bills would make it more difficult for landlords to charge higher market-rate rents, lifting the destabilization rent threshold to $3,000 a month from $2,000.
The Democratic Assembly used to blame Republicans who made no secret about their distaste for rent regulation laws. But last year, for the first time in more than 40 years, Democrats took control of the state senate. Assembly members and housing advocates thought there would finally be some action on housing bills, which they believed would keep the city’s housing
Rent stabilized leases can be deregulated only under specific conditions.