The state Legislature has taken a major step in revamping New York’s rent-regulation laws.
The Democratic-controlled Assembly yesterday passed a package of reforms that would return thousands of units to rent regulation that had been converted to market-rate apartments.
The legislation also would reduce from 20 percent to 10 percent the amount a landlord can increase rent after an apartment becomes vacant.
The reforms will face a tougher battle in the more evenly divided State Senate.
The city’s biggest landlord organizations argue the current rental laws have created economic growth for the state.
(Source: NY1)
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It’s gotten to the point where many young people cannot afford an apartment for themselves so they rent rooms and share rooms in apartments and they stay single because they cannot afford a place to live.Poorer people,if lucky,have Section-8 apartments in buildings that landlords accept it so they manage with that in a poorly-maintained apartment. Otherwise it is wealthier people who buy their apartments.ents for 2-bedroom apartments are about $ 2000 a month!