Landmark Deal Reached on Rent Protections for Tenants in N.Y.
Newly empowered Democratic leaders in Albany announced a landmark agreement on Tuesday to strengthen New York’s rent laws and tenant protections, seeking to address concern about housing costs that is helping drive the debate over inequality across the nation.
The changes would abolish rules that let building owners deregulate apartments, close a series of loopholes that permit them to raise rents and allow some tenant protections to expand statewide.
The deal was a significant blow to the real estate industry, which contended that the measures would lead to the deterioration of the condition of New York City’s housing. The industry had long been one of the most powerful lobbies in Albany, but it suffered a loss of influence after its Republican allies surrendered control of the State Senate in the November elections.Read more