Sentences with phrase «vacancy decontrol provisions»

«The New York State Court of Appeals, the state's highest court, has reaffirmed the long - standing legal practice and widely held understanding of the application of the Rent Stabilization Law's vacancy decontrol provisions,» REBNY's president John Banks said in a statement.

Not exact matches

The City will work with the state as rent regulation comes up for renewal in 2015 to prevent abuses of the vacancy and luxury decontrol provisions and capital improvement rules.

Perhaps the most contentious part of the Assembly plan is a push to repeal a provision that allows apartments with monthly rents of at least $ 2,500 to become decontrolled upon vacancy.

Sources said three - way talks were tipping closer to the Senate's plan for rent regulations — which would renew them for eight years but keep in place provisions of vacancy decontrol, a scourge of tenant advocates that takes apartments out of the program when their monthly rent rises above $ 2,500.