Thursday, February 19, 2009

Support the REPEAL of Vacancy Decontrol

Repealing vacancy decontrol is very important:

Vacancy decontrol permits landlords to take vacant apartments out of rent stabilization forever by raising the rent to $2000 or more through "improvements" to the apartment. This has led to the loss of some 25 rent stabilized apartments in this building - lost as affordable housing forever (unless the market-rate tenants successfully challenge the original rent increase to $2000).

And vacancy decontrol has led to the loss of thousands of affordable apartments across New York City as landlords who over-borrowed to buy buildings for a quick profit have to oust as many rent-regulated tenants as possible in order to pay their mortgages and bills.

One of many organizations working in the Real Rent Reform Campaign has posted an on-line petition to persuade the NYS Senate to pass a bill to repeal vacancy decontrol. (The State Assembly has already done so. Click here for recent NYS Assembly bills.)

You can click here to sign the petition.

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