Lawmakers introduce bill to keep rent regulation alive

Two state lawmakers have introduced bills aimed at ensuring the pandemic does not unravel rent regulation in New York. The twin bills, introduced Tuesday in the Senate and Assembly, propose removing the vacancy rate from the criteria for rent regulation until years after the worst of the pandemic is over, according to The City. The rationale for rent regulation is that there is a “housing emergency,” meaning a vacancy rate of less than 5 percent.

source https://therealdeal.com/2020/07/30/lawmakers-introduce-bill-to-keep-rent-regulation-alive/