Gov. David Paterson
Gov. David Paterson wants to raise the cap on rent-stabilized apartments, making it more difficult for landlords to convert their units to market-rate rentals. Currently, landlords for rent-stabilized units can start charging market-rates after an apartment becomes vacant and the monthly rent reaches $2,000. Under the proposed change in New York rent laws, that threshold would be raised to $3,000. Paterson said the proposed change is intended to “reflect the change in the cost of living.” Another Paterson proposal would establish a procedure for tenants of apartments affected by last year’s State Court of Appeals rent-stabilization decision on Stuyvesant Town and Peter Cooper Village to apply for rent relief. [NYT]