State leaders reach deal on new rent protections for NYC

ALBANY, N.Y. (AP) — Legislative leaders in Albany have announced a deal on new tenant protections for millions of New York City apartment dwellers.

Senate Majority Leader Andrea Stewart-Cousins and Assembly Speaker Carl Heastie released a statement Tuesday night saying their chambers’ Democratic majorities would pass “historic” changes. Those include restrictions on rental increases in rent stabilized units and authorizing cities throughout the state to create their own rent rules.

The agreement is expected to get a vote this week. Democratic Gov. Andrew Cuomo urged lawmakers Tuesday to work quickly.

The state law governing rent control and rent stabilization rules protecting tenants in older, multi-unit apartment buildings in and around New York City is set to expire Saturday.

The rules control how much a landlord may raise the rent and also restrict evictions.