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The newly-elected Democrat leaders in Albany on Tuesday announced a historic agreement to strengthen tenants' rent and protection laws in New York, addressing housing cost concerns that contribute to the debate over inequities in housing. the country.
The amendments would abolish a rule that allows property owners to deregulate apartments, close a series of loopholes allowing them to raise rents and allow some tenant protections to extend to tenants. Entire state, according to two people familiar with the negotiations.
The agreement dealt a severe blow to the real estate sector, which had long been one of Albany's most powerful lobbies, but had suffered a loss of influence after its Republican allies had ceded control of the Senate of the State in the November elections.
"We have reached an agreement," Senate Majority Leader Andrea Stewart-Cousins said. "We are finalizing this legislation and we will issue a joint statement with additional details when it is completed."
The current rent regulation will expire on June 15. The new, strengthened rules would mark a turning point for the 2.4 million people living in nearly one million rent – regulated apartments in New York after a erosion of protections and loss of tens of thousands of regulated apartments for decades.
Legislation being finalized in Albany is far-reaching: While rent regulation is currently largely limited to New York City and a few other localities, the new package would allow cities and states to create their own regulations. , intended to maintain the apartments at an affordable price. by limiting rent increases.
This would also make the changes permanent – a major victory for tenant activists who have always had to pressure Albany every few years when the old laws expired.
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