Rent Control Law Extended

Rent Control Law Extended

New York state lawmakers just reached an agreement on controversial rent control regulations for 2 million New Yorkers. What is rent control: Rent stabilization sets maximum rates for annual rent increases and, as with rent control, entitles tenants to receive required services from their landlords and have their leases renewed. The rent guidelines board meets every year to determine how much the landlord can set future rents on the lease. Increase are normally 2-3% for one year and from 3-5% for a 2 year. This increase usually set every year in the month of October. 

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Phone: 646-235-6634
Dated: June 26th 2015
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