- Rent Laws
- 6/22/2011: A Rent Laws Deal has been reached by Governor Cuomo, Senator Skelos and Assembly Speaker Silver. It renews the rent laws for 4 years and raises the vacancy decontrol threshold to $2,500 rent (from $2,000) and the income threshold has been raised to $200,000 (from $175,000). The formula for Individual Apartment Improvement (IAI) rent increases has been changed from 1/40th of the cost of work to 1/60th of the cost. Landlords will be limited to one vacancy renewal increase per year. In exchange for these provisions strengthening tenant protections, the Legislature agreed to cap property tax increases at 2% per year. For more details, follow us on Facebook.
- Rent Guidelines Board:
- On Monday 6/27, the Rent Guidelines Board voted for a 3.75% rent increase for 1-year leases and 7.25% increase for 2-year leases. We appreciate all the Cooper Square Committee members who turned out for the rally. City-wide, tenant turnout was not as high as tenant advocates would have liked.
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