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History
- Referred to housing, construction and community development
- Referred to housing, construction and community development
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Limits the rent increase after vacancy of a housing accommodation and relates to the adjustment of maximum allowable rent
In Assembly Committee · Housing · Sponsor Linda Rosenthal
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S3741
Title of bill
An act to amend the administrative code of the city of New York and the emergency tenant protection act of nineteen seventy-four, in relation to limiting rent increase after vacancy of a housing accommodation; and to amend the administrative code of the city of New York, the emergency tenant protection act of nineteen seventy-four and the emergency housing rent control law, in relation to adjustment of maximum allowable rent
Purpose or general idea of bill
Limits the rent increases after vacancy of a rent stabilized housing unit and relates to the adjustment of maximum allowable rent by eliminating the vacancy bonus, capping individual apartment improvements(IAIs), and requiring proof of improvements.
Summary of provisions
-This bill eliminates the automatic 20% vacancy bonus increase
-Caps the amount by which the legal rent of a vacant apartment can raised by Individual Apartment Improvements to 20%.
-Requires landlords who are using Individual Apartment Improvements to justify rent increases of the legal rent to give an itemized list of the improvements and the accompanying receipts to the new tenant as a rider to the lease.
Justification
Landlords have been using Individual Apartment Improvements (IAIs) as a tool to raise the legal rent of rent stabilized units past to the level of vacancy decontrol. Between these IAIS, which allow landlords to raise the rent by 1/40(for smaller buildings) or 1/60 (for larger buildings)of the value of the improvements, and the 20% automatic vacancy decontrol (bounce) far too many apartments are being deregulated This bill would eliminate the 20% bonus and cap the maximum IAI related increase to 20%. Landlords should have to justify an increase of the legal rent, it should not just be handed out and any increase should not be so much that the apartment becomes unaffordable.
In addition, this bill requires that if IAIs are used to justify a vacancy increase the landlord must give an itemized list of the improvements and the accompanying receipts to the new tenant as a rider to the lease. Far too often when the improvements that landlords claim they are making are audited it is found that they were overblown or never done. This empowers tenants by giving them a tool to ensure their landlord has done the improvement they have claimed to have done.
Prior legislative history
None
Fiscal implications
To be determined.
Effective date
This act shall take effect immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.