By Sabina Mollot
Although nothing is yet a done deal, on Tuesday night the State Assembly and Senate announced that the package of bills aimed at repealing vacancy decontrol, among other tenant protections, is being pushed forward by both chambers. A vote is expected to take place on Friday, and Governor Andrew Cuomo has said he would sign such a bill if it passes in both chambers.
The package’s protections for tenants, if signed into law, would:
- Make the rent regulations permanent, instead of sunsetting every four years
- Repeal vacancy deregulation and high-income deregulation, which has applied to residents whose household incomes were at least $200,000 for two years
- Repeal the vacancy bonus, which allows owners to raise the rents by 20 percent every time an apartment turns over
- Repeal the longevity bonus, which allows owners to raise rents on an apartment for new tenants based on the length of the previous tenancy
- Prohibit Rent Guidelines Boards from setting additional increases based on the current rental cost of a unit or the amount of time since the owner was authorized to take additional rent increases, such as a vacancy bonus