‘A Real Sea Change’: What NYC Tenants Need To Know About The New Rent Reform Deal

The plight of renters, especially rent-regulated ones, has long been part of New York City lore — steep rent hikes, shoddy maintenance, fear of being blacklisted and evicted, and a general sense of powerlessness against a faceless landlord.

But come next week, a lot could change.

The state Senate and Assembly’s landmark deal on New York’s rent regulations, which will go before a final vote on Friday, is expected to introduce a new normal for the 2.4 million tenants in the city’s rent-regulated system: After decades of living under landlord-friendly rules like vacancy decontrol and renovation increases, the city’s rent-regulated tenants are poised to become newly empowered, armed with more financial security due to the elimination of sharp rent hikes and increased accountability for landlords.

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