Lawmakers set to pass new rental protections for pricey NYC
ALBANY, N.Y. (AP) — State lawmakers are expected to approve new rental protections for more than a million New York City apartment dwellers.
The bill up for a vote Friday would renew and strengthen rent stabilization and rent control rules that restrict rental increases in many apartments in the city and suburbs, typically in older, multi-unit buildings.
This year, with Democrats in control of the Legislature, lawmakers want to authorize cities around the state to opt into the rules.
Housing advocates praise the proposal, but landlords warn apartments could fall into disrepair if they can’t increase rents enough to recoup the cost of improvements.
Gov. Andrew Cuomo, a Democrat, says he’ll sign the bill . He is likely to act quickly since the existing rent stabilization rules are set to expire Saturday.