June 13, 2019
Gov. Andrew Cuomo says he will sign the bill expanding and revamping New York State’s rent laws, which affect apartment landlords both in New York City and upstate. “I think it’s the best bill that they could come up with, and I think it’s a step forward,” Cuomo said.
The agreement was the result of negotiations between state Assembly Speaker Carl Heastie and Senate Majority Leader Andrea Stewart-Cousins. Among other provisions, it prohibits large increases for rent-controlled tenants, and also repeals certain statutes allowing landlords to take apartment units out of rent stabilization.
“These reforms give New Yorkers the strongest tenant protections in history,” Heastie and Stewart-Cousins said in a statement.
However, the Taxpayers for an Affordable New York coalition said the legislation would lead to “disinvestment in the city’s private-sector rental stock,” as well as deteriorating conditions for tenants. The group urged Cuomo to veto the bill.
The Connect Apartments Conference will take place June 20, 2019 in Los Angeles. For more information, or to register, click here.
For comments, questions or concerns, please contact Paul Bubny