Upcoming Public Hearings Regarding New York Rent Laws

Medgar Evers College

New York’s rent laws are set to expire on June 15. Before this deadline, the NYS Senate Housing Committee is holding public hearings throughout the State to hear public testimony regarding tenant protection and rent regulations.

The upcoming hearings are as follows:

1) Thursday, May 16 (1PM-8PM) Medgar Evers College; 1650 Bedford Avenue; Brooklyn, New York 11225.
2) Wednesday, May 22 (1PM-8PM) Albany Legislative Office Building.
3)Thursday, May 23 (2:30PM- 8PM) Hudson Valley at the Newburgh Armory Unity Center; 321 South William Street; Newburgh, NY 12550.

Facebooktwittergoogle_plusredditpinterestlinkedintumblr

What Is Rent Control?

NYC Rent Control Rules

Rent control is defined by Investopedia as follows: “A price control that limits the amount a property owner can charge for renting out a home, apartment or other real estate. Rent control acts as a price ceiling by preventing rents either from being charged above a certain level or from increasing at a rate higher than a predetermined percentage.”

Note that rent control does not necessarily mean that the housing under rent control will be affordable.  A landlord can increase the rent of a rent controlled unit every two years by 7.5% until the maximum base is reached.

Facebooktwittergoogle_plusredditpinterestlinkedintumblr