The Current Rent-Stabilized Landscape

The New York Senate’s affirmative vote for two bills, which would together provide rent-stabilized tenants greater recourse against landlord fraud, has garnered much discussion over the past few months. 

The pair would expand the lookback window for landlord fraud, which has been 6 years of rent history since the passage of the Housing Stability and Tenant Protection Act (HSTPA) in 2019, and would limit the amount landlords can charge their tenants after a building merger. Although both bills have passed, Governor Hochul has neglected to sign them into effect because of landlords’ fervent opposition to the new legislation.

Landlords cite Regina, a case that debilitated the aforementioned HSTPA in 2020. Regina concluded that tenants could not implement the updated 6-year lookback window for claims filed before the HSTPA’s passage — tenants must instead resort to the defunct 4-year window in such cases. Despite this favorable outcome, landlords remained adamant in their petition for rent hikes to (1) offset the unprecedented inflation and (2) leverage against landlord fraud claims.

It’s important to note that New York’s Rent Guidelines Board (RGB) approved hikes on rent-stabilized buildings in June, which both dissatisfied the wide range of property owners who sought steeper hikes and infuriated the 2 million tenants who feared displacement.

On the other hand, tenant advocate groups view the legislation as an appropriate step toward fair rent regulation amidst the current historic market prices — from their perspective, the new legislation will settle the score with landlords.

Both sides await the Governor’s approval (or lack thereof) in the near future. No matter her decision, New York City Housing Court remains complex and time-consuming. Our team at the Law Office of Marc Scolnick, P.C. has the experience to help you navigate through your case as effectively and expeditiously as possible. Call us today at (718) 554-6445 to set up a FREE consultation.

Sources: https://citylimits.org/2023/06/21/bills-to-bolster-nys-rent-stabilization-law-head-to-governors-desk/

https://therealdeal.com/new-york/2023/08/18/new-york-landlords-prepare-for-rent-law-expansion/

Rents to Rise for 2 Million New Yorkers This YearThe New York Timeshttps://www.nytimes.com › 2023/06/21 › nyregion › ren...

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