The bill would increase the vacancy
decontrol threshold — the point at which empty apartments can go to market - rate rent — from $ 2,500 to $ 2,700.
Assembly Democrats wanted to strengthen rent rules so fewer apartments could become market rate, otherwise known as the «
decontrol threshold.»
They have criticized the measure, which would up the vacancy
decontrol threshold for when apartments re enter the open market by just $ 200, to a rate of $ 2700 a month.
Once a stabilized apartment hits the vacancy
decontrol threshold — currently set at $ 2,733 — the apartment comes out of the rent stabilization system and the state protections that keep that apartment affordable disappear.
Further, landlords strenuously opposed the tenant - friendly increase of
decontrol thresholds — the amount of monthly rent above which apartments can go market rate, from $ 2,000 a month to $ 2,500, and the raising of the tenant - income limit from $ 175,000 to $ 200,000.
«We must eliminate vacancy decontrol or at the very least significantly raise vacancy
decontrol thresholds,» he wrote in an opinion piece in the Daily News.
Not exact matches
There, the governor appeared to endorse the Assembly's proposals for rent regulation, calling for an end to vacancy
decontrol, ending permanent charges for major capital improvements and raising the price at which an apartment is able to leave rent stabilization from the current
threshold of $ 2,500.
The activists have called for changes to rent regulations to stop or slow the process of vacancy
decontrol, under which landlords can remove apartments from regulation when rents cross a certain
threshold.
In the past, legislators and governors have used the sunset date to shift the balance from tenants to landlords, with what's known as vacancy
decontrol, once the monthly price of an apartment and the tenants» income reach a certain
threshold.
The details of the so - called «framework» are as follows: much to the dismay of die - hard tenant - advocates, vacancy
decontrol is staying, and landlords will still be allowed to deregulate apartments when tenants» monthly rent and annual household income reach certain
thresholds.
According to the sources, the Assembly is trying to increase the amount of the
threshold for vacancy
decontrol to $ 3,000 a month, though a spokesman for Cuomo denied that was the case.
Capital NY's Laura Nahmias reported earlier this afternoon that some Assembly Democrats are pushing for changes to the rent agreement, including an increase in the
threshold for vacancy
decontrol, though the governor's office denied that was the case.
The four - year extension of the state's rent control laws will also include an increased
threshold of vacancy
decontrol to $ 2,700 with indexing.
Juan Gonzalez singles out Bronx State Senators Pedro Espada and Jeff Klein for indicating that they won't support the millionaire's tax or to increase the
threshold vacancy
decontrol rent from $ 2,000 to $ 5,000.
«If we're gonna fight for New Yorkers they we're gonna need to strengthen the rent laws and that means the repeal of vacancy
decontrol and the repeal of a lot of the loop holes that have allowed land lords to increase the rent at a rapid rate to get it up to the 25 - hundred dollar
threshold where they can deregulate it.»
To do that, the Assembly has put forth a bill that would repeal vacancy
decontrol and increase high income and high rent deregulation
thresholds to $ 300,000 and $ 3,000, respectively, among other expansions of the current laws.
An increase in the rent
threshold at which apartments become market - rate, indexed to rise each year, is a step forward, but it only slows the bleeding — and is well short of de Blasio's target, ending vacancy
decontrol completely.
Ricci recalled the brief period of Democratic control of the Senate in 2008 when members introduced measures «every week» that would «hurt the residential real estate industry,» such as raising the
threshold for luxury
decontrol, or the rent that effectively removes an apartment from rent - stabilization rules.
Senate Republicans are not interested in repealing vacancy
decontrol or increasing the
threshold.
It also would slightly increase the rent
threshold at which apartments that become vacant can be removed from rent regulation, a process known as vacancy
decontrol.
The rent regulation bill appears to be more favorable to landlords than to tenant activists because it makes no changes to the process of vacancy
decontrol, by which apartments are unregulated when their monthly rent crosses a certain
threshold.