NEW YORK—With rent regulation laws expiring June 15, Councilwoman Margaret Chin is urging the state legislature to not only renew the laws, but to close what she sees as “loopholes” that hurt tenants.
The state Legislature is expected to renew the laws, but to make little change to them, says the City Council’s Chair of Housing and Buildings Erik Martin Dilan.
City Council convened Monday to discuss rent stabilization and Margaret Chin’s Resolution No. 700, which urges the state to eliminate vacancy decontrol. Landlords can raise the rent by 20 percent each time a unit is vacated. If the rent hits the threshold of $2,000 a month, it is no longer rent-stabilized.
The resolution also calls on Albany to give the city back the power to determine rent regulation laws itself. This power was lost in 1971 under the Urstadt law.
The state Legislature is expected to renew the laws, but to make little change to them, says the City Council’s Chair of Housing and Buildings Erik Martin Dilan.
City Council convened Monday to discuss rent stabilization and Margaret Chin’s Resolution No. 700, which urges the state to eliminate vacancy decontrol. Landlords can raise the rent by 20 percent each time a unit is vacated. If the rent hits the threshold of $2,000 a month, it is no longer rent-stabilized.
The resolution also calls on Albany to give the city back the power to determine rent regulation laws itself. This power was lost in 1971 under the Urstadt law.
