NYC Rent Regulation Laws Extended for 3 years

New York City rent stabilization laws will be extended for another three years. The rent regulation laws were set to expire April 1st.

In order for the city council to extend the rent laws the council also had to pass a resolution declaring that the city is in a housing emergency, with vacancy rates below five percent.

Currently lawmakers in Albany control rent and eviction laws in NYC. The City Council has been pushing for Albany to give the city back control of its rent and eviction laws.

Members of the city council also want state lawmakers to repeal vacancy decontrol, which allows landlords to return stabilized apartments to market rate once tenants move out.