De Blasio proposes tenant protections for rent-regulated units

Plan would end vacancy decontrol and allowances, permanent surcharges

New York /
May.May 05, 2015 05:05 PM

Mayor Bill de Blasio proposed a sweeping expansion of tenant protections for the city’s 1 million rent-regulated apartments Tuesday, calling for an end to vacancy decontrol and new restrictions on rent surcharges.

The proposals would see an end to vacancy decontrol, which allows landlords to charge tenants market rates once a rent-regulated unit exceeds a rent threshold of $2,500 per month.

De Blasio is seeking an end to such thresholds, as well as the elimination of vacancy allowances that allow landlords to hike a unit’s rent by 20 percent when a tenant leaves.

Another proposal would restrict rent surcharges implemented by landlords to recoup building and apartment improvement costs – making such permanent surcharges temporary and spreading them out over a seven- or 10-year period, depending on the improvements.

De Blasio wants the New York State Legislature to enact the legislation before existing rent regulations expire June 15, according to the New York Daily News.

The Mayor signed legislation last week providing tax relief to property owners whose homes were damaged by Hurricane Sandy. [NYDN]Rey Mashayekhi


Related Articles

arrow_forward_ios
Blackstone CEO Steven Schwartzman and Stuyvesant Town (Credit: Getty Images)
After authorities vowed review of Stuy Town deal, Blackstone changes course on vacancies
After authorities vowed review of Stuy Town deal, Blackstone changes course on vacancies
Real Capital Analytics data showed that New York’s multifamily market had a very slow July. (Credit: iStock)
New NYC rent law “beginning to shut down investment”
New NYC rent law “beginning to shut down investment”
Some landlords say they plan to close the door to vacant apartments and wait for the laws to change (Credit: iStock)
Creative ways NYC landlords are getting around the new rent rules
Creative ways NYC landlords are getting around the new rent rules
Attorney General Letitia James (Illustration by Kevin Rebong for The Real Deal)
For rent law cheaters, the ultimate punishment: Endless stabilization
For rent law cheaters, the ultimate punishment: Endless stabilization
Attorney General Letitia James (Getty)
AG nails landlord for breaking rent law, promises more to come
AG nails landlord for breaking rent law, promises more to come
Mayor Steven Fulop (Mayor Steven Fulop)
Jersey City needs developers to make its inclusionary housing work
Jersey City needs developers to make its inclusionary housing work
CHIP executive director Jay Martin (LinkedIn, iStock / Photo illustration by Priyanka Modi)
Landlords called it: Vacancy rate jumps, rent-stabilization stays
Landlords called it: Vacancy rate jumps, rent-stabilization stays
Mayor Bill de Blasio (Getty, iStock)
De Blasio’s post-mayoral home has been a 4-star Brooklyn hotel
De Blasio’s post-mayoral home has been a 4-star Brooklyn hotel
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...