The Real Deal New York

NYC’s rent regulations have expired

Republican and Democratic lawmakers failed to reach an agreement before Monday night's deadline

June 16, 2015 08:00AM

From left: Sen. John Flanagan, the New York State Senate and Gov. Andrew Cuomo

From left: Sen. John Flanagan, the New York State Senate and Gov. Andrew Cuomo

The city’s rent regulations have officially expired.

The State Assembly and the State Senate were unable to come to an agreement before midnight, according to the Wall Street Journal. While the Assembly, which is controlled by Democrats, passed a two-day extension, the Republican-controlled Senate passed an eight-year extension of the program instead.

John Flanagan, the president of the Senate told the Journal that lawmakers will keep talking about the matter until the end of the legislative session on Wednesday.

“Given the fact that we’re [in Albany] for another 48 hours, we’re going to have further discussions,” Flanagan told the newspaper. “Do I think anything tumultuous or crazy is going to happen overnight? Absolutely not.”

Governor Andrew Cuomo, in a statement after the expiration, called out to landlords of the roughly one million apartments in question.

“While today may be the legal expiration date for some of these laws, landlords should under no circumstances believe that their responsibility under the current rent stabilization program has expired,” the governor said, according to the newspaper.

If lawmakers are unable to agree by the end of the legislative session, Cuomo said he’d call them back into work until an accord is struck. [WSJ] — Claire Moses