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
Tete-à-tete with TRD: How landlords are dealing with New York’s new rent laws
Tete-à-tete with TRD: How landlords are dealing with New York’s new rent laws
Tete-à-tete with TRD: How landlords are dealing with New York’s new rent laws
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”
RSA President Joe Strasburg (Jefferson Siegel) and Governor Cuomo (Getty)
Landlords ask Cuomo to ditch eviction ban after ending Covid restrictions
Landlords ask Cuomo to ditch eviction ban after ending Covid restrictions
Mayor Bill de Blasio and REBNY president James Whelan (Getty, Whelan via Anuja Shakya)
Business alliance urges de Blasio not to blow $22B federal aid windfall
Business alliance urges de Blasio not to blow $22B federal aid windfall
The New York Life Sciences and Biotechnology Center at First Avenue and 41st Street (NY Life Sciences)
Life sciences leasing breaks annual record in five months
Life sciences leasing breaks annual record in five months
RSA President Joseph Strasburg (Rent Stabilization Association)
Landlords plea for water rate freeze ahead of vote
Landlords plea for water rate freeze ahead of vote
Speaker Corey Johnson and Mayor de Blasio. (Getty, The New York City Council)
City Council quietly cut homeless voucher eligibility ahead of vote
City Council quietly cut homeless voucher eligibility ahead of vote
arrow_forward_ios

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

Loading...