When did New York state rent law change?

On June 14, 2019, Albany lawmakers approved, and Governor Cuomo signed. This legislation changes New York State’s rent laws. The main focus of many has been on the changes to the State’s rent stabilization law. However, landlords and tenants should understand that the legislation’s effects go beyond rent stabilization.

How are tenants treated in New York City?

tenants who stay past the end of a lease are treated as month-to-month tenants if the landlord accepts their rent (Real Property Law § 232-c). A month-to-month tenancy outside New York City may be terminated by either party by giving at least one month’s notice before the expi-ration of the tenancy. For example, if the landlord wants the tenant

Are there any changes to the Rent Stabilization Law?

The main focus of many has been on the changes to the State’s rent stabilization law. However, landlords and tenants should understand that the legislation’s effects go beyond rent stabilization. The new bill implemented significant changes to rent stabilization laws and real property law. Most of the changes affect rent-stabilized units.

Can a landlord permit a tenant to make a renovation?

Many landlords willingly incorporate agreements like this in the lease. There could even be a good payoff for the landlord who permits a tenant to make a major renovation . Improvements that a landlord may not have the time or money to make herself could boost the property value and bring in higher future rents.

What’s the law on rent increases in NYC?

The law also limited a landlords’ ability to increase rents through a building Major Capital Improvement (MCI). Before that, building improvements used to permit a rent increase of 1.04% for buildings with less than 35 apartments and a 0.92% increase for buildings with more than 35 apartments.

Why was NYC removed from the rent regulation program?

High-Rent High Income-Deregulation. The authorities mentioned an affordability crisis to justify their decision. They claim over 300,000 rent-stabilized apartments have been removed from the rent regulation program and converted to regular units in NYC over the last 25 years ago.

The main focus of many has been on the changes to the State’s rent stabilization law. However, landlords and tenants should understand that the legislation’s effects go beyond rent stabilization. The new bill implemented significant changes to rent stabilization laws and real property law. Most of the changes affect rent-stabilized units.

tenants who stay past the end of a lease are treated as month-to-month tenants if the landlord accepts their rent (Real Property Law § 232-c). A month-to-month tenancy outside New York City may be terminated by either party by giving at least one month’s notice before the expi-ration of the tenancy. For example, if the landlord wants the tenant