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New York City's Rent Guidelines Board (RGB) voted to cut rents at rent-stabilized apartments yet again, although you might not know that from the press coverage. Earlier this week, the RGB—a ...
In a 5-to-4 vote, New York City's Rent Guidelines Board voted to approve rent increases. One-year leases will rise by 2.75%, while two-year leases will rise by 5.25%.
WASHINGTON (Reuters) -The U.S. Supreme Court on Tuesday turned away a bid by landlords to challenge rent stabilization laws in New York City that cap rent hikes and make it harder to evict tenants.
In New York City, apartments in single and two-family homes became deregulated after April 1, 1953. Cities and towns outside New York City were given permission to deregulate when ready. The most expensive luxury apartments in New York City began to be deregulated starting in 1958.
The law was administered by the New York City Loft Board. The 1982 Loft Law should not be confused with the artists' loft law, Article 7-b of the New York State Multiple Dwelling Law nor with rent control legislation, which limits the ability of landlords to increase the rent of certain long-term tenants. The artists' loft law requires that the ...
On June 11, 2019, State Senate Majority Leader Andrea Stewart-Cousins and Assembly Speaker Carl Heastie announced that they had reached a "landmark agreement" on new rent laws. [6] Both houses of the New York state legislature passed the HSTPA on June 14, 2019, and Governor Andrew Cuomo signed the HSTPA into law later that day.
Almost half of all apartments in New York City are rent stabilized. It was a system designed to keep some units affordable, especially in older buildings put up before 1974.
The project was proposed by the Metropolitan Life Insurance Company in 1944, [1] and largely served an African American population, [2] in contrast to Met Life's Parkchester in the Bronx (1940), Stuyvesant Town–Peter Cooper Village in Manhattan, Park La Brea in Los Angeles, Parkmerced in San Francisco, and Parkfairfax in Alexandria, Virginia, which were restricted to a whites-only tenancy at ...