Please click here to read a summary of the 2019 Amendments to the NY Rent Laws.
On June 14, 2019 Governor Andrew Cuomo signed into law the Housing Stability and Tenant Protection Act of 2019 (“HSTPA”). The HSTPA represents a sweeping overhaul not only of the housing laws effecting the million rent regulated apartments in the five boroughs but will severely impact all landlords across the entire State of New York.
The new laws represent a tectonic paradigm shift, swinging the pendulum towards greater tenant protections while severely limiting–or in some instances abolishing benefits enjoyed by landlords of rent stabilized apartments for decades, including: vacancy bonuses, MCI increases, individual apartment improvements increases, high rent and high income vacancy decontrol to name a few.
Some of these provisions will affect commercial landlords as well.
Kucker Marino Winiarsky & Bittens, LLP is ready to assist our clients to navigate through the omnibus changes.