State Senate OKs new rental protections for pricey NYC
ALBANY, N.Y. (AP) — The New York state Senate has approved new rental protections for more than a million New York City apartment dwellers, along with some protections that would apply statewide.
The Senate passed the bill Friday afternoon as debate on the measure continued in the Assembly. Passage there will send the bill to Democratic Gov. Andrew Cuomo, who plans to sign it .
The measure would extend and strengthen rent rules that restrict rental increases in many older, multi-unit apartments in and around the city.
The bill would ban security deposits of more than one month statewide and authorize cities throughout New York to opt into rent stabilization.
Housing advocates praise the proposal, but landlords warn apartments could fall into disrepair if owners can’t increase rents enough to recoup the cost of improvements.