The New York state legislature passed sweeping rent regulation reform on Friday, dramatically limiting how landlords can increase rents on stabilized apartments and opening the door for rent stabilization to expand outside of New York City. The bill includes the elimination of vacancy decontrol and new caps on the Major Capital Improvements and Individual Apartment Improvement programs, which respectively allowed landlords to hike rents on regulated apartments when a unit is vacated or renovations performed. […]
source https://therealdeal.com/2019/06/14/state-approves-landmark-rent-regulation-reform-bill/
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