NYC rent regs for 2M tenants to lapse if lawmakers don't act

AP News
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Posted: Jun 15, 2015 10:04 PM
NYC rent regs for 2M tenants to lapse if lawmakers don't act

ALBANY, N.Y. (AP) — The law affecting rents paid by more than 2 million tenants in and around New York City will expire at midnight Monday after lawmakers failed to reach a deal on extending the law before the key deadline.

But the impact of the lapse will likely be minor. Landlords of rent-regulated units cannot raise the rent or evict tenants without advance notice, and Gov. Andrew Cuomo and Mayor Bill de Blasio have vowed to go after landlords who exploit the law's expiration.

Lawmakers and Cuomo continue to work toward a deal to renew the law.

Senate Republicans want to ensure tenants in rent-regulated apartments meet income requirements. Assembly Democrats want stronger tenant protections.

Lawmakers hope to agree on a deal before adjourning their 2015 session later this week.