Last week, the City Council passed a slew of bills aimed at tenant protection, and while not yet law, the mayor has indicated he’ll support them.
This is a tremendous relief. We believe these bills would go a long way in protecting tenants from landlords who flout the law, from making aggressive buyout offers to using construction as a form of harassment to blatantly lying on applications.
Additionally, the fact that so many housing bills were introduced shows how badly this intervention was needed in the first place. A perfect example is Council Member Keith Powers’ bill to crack down on landlords who lie in construction documents about whether or not their buildings have rent regulated tenants. This legislation was inspired by behavior by the Kushner Companies, who failed to disclose the presence of such tenants in 17 buildings a total of 42 times when filing applications to the Department of Buildings.
Another helpful bill will improve communication between city agencies with oversight of housing, making it easier to catch these inaccuracies.
Congresswoman Carolyn Maloney discusses her legislation in Washington, DC. (Photo courtesy of Carolyn Maloney)
By Sabina Mollot
For the past decade, Congresswoman Carolyn Maloney has been pushing legislation aimed at preventing money laundering, often via real estate purchases, by cracking down on shell companies.
On Tuesday, May 14, Maloney held a press conference in Washington, DC about the bill, which she said is finally starting to gain traction in Congress along with having the support of law enforcement agencies, banks, credit unions and four real estate industry associations. Real estate groups in support of the bill are American Escrow Association, American Land Title Association, National Association of REALTORS, Real Estate Services Providers Council, Inc. (RESPRO).
“I’ve never had such huge support for one of my bills before,” said Maloney. “If this bill passes, it’ll be harder to finance terrorism.”
After reintroducing the Corporate Transparency Act, which is co-sponsored by Reps. Peter King and Tom Malinowski last week, she expects it to have a markup soon. A markup, unlike a hearing, is aimed at getting legislation passed in committee and moved onto the house floor. There have already been hearings for this bill, and there is also one set for next week. The bill hasn’t yet been discussed in the Senate.