Tuesday, June 23, 2015

Tentative Rent Laws Deal Doesn't Help Tenants Much

The Albany deal on the rent laws will lead to 87,500 apartments being deregulated.
Call Gov. Cuomo at 518 474-8390 or 212 681-4580 and tell him to go back to the drawing board and come up with a deal that protects tenants.

Issue
What tenants need
What Cuomo is offering
Vacancy deregulation
(motivating landlords to oust regulated tenants, losing affordable apartments forever)

Repeal of vacancy deregulation
Rent at which vacant apartments can be de-regulated goes up from $2500 to $2700 and is indexed to Rent Guidelines Board orders.  
MCI and IAI increases
Major Capital Improvement and Individual Apartment Improvement rent increases (now permanent)
Limit the increases to end when the cost of the improvement has been re-paid.

Reduce the permanent increase by 1/3.
Vacancy bonus
Right now, landlords get a 20% rent increase just because an apartment has become vacant. That motivates them to kick out tenants to get to the vacancy decontrol threshold.



Cut the bonus.



No change
Rent law renewal term
As long as vacancy deregulation is in effect, we’re losing affordable apartments.

One year renewal

Four years
Preferential rent
Tenants renting at below the legal regulated rent (LRR) can be hit with LRR increases on lease renewal.

Close the loophole

No change





June 23rd, 2015Albany Close to Deal on Rent Regulation - How Does the Reported “Framework” Affect Neighborhoods? Thomas J. Waters Tweet The New York...
CSSNY.ORG