What's happening
This bill requires New York City's Rent Guidelines Board to consider landlords' income from commercial rents and unregulated units when setting rent adjustments.
Why it matters
Broadens financial transparency. By requiring the Rent Guidelines Board to consider landlords’ income from commercial spaces and unregulated residential units, the bill makes the full financial picture of property owners more transparent, not just what they earn from regulated apartments.
Potentially limits rent increases. Since landlords often have substantial income from sources outside regulated apartments, factoring these in could justify smaller rent hikes for regulated tenants, directly affecting affordability for many New Yorkers.
Shifts balance in rent-setting process. The bill counters arguments that landlords’ costs always outpace their income, potentially reducing pressure to raise regulated rents and shifting some negotiating power toward tenants.
Encourages fairer policy decisions. By mandating a more comprehensive review of landlord income, the law aims to ensure rent adjustments are based on actual financial need rather than partial or selective data, which could lead to more equitable housing policies.
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Who cares
Headline styles
Count All Landlord Income
Plain English, a few words. Used as the page title.
Sponsors
2 Co-sponsors
2 Multi-sponsors
History
- Referred to housing
- Referred to housing
Full text
1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
3219
2017-2018 Regular Sessions
IN ASSEMBLY
January 27, 2017
Introduced by M. of A. ROSENTHAL, GOTTFRIED, KAVANAGH, DINOWITZ -- Multi-Sponsored by -- M. of A. COLTON, GLICK -- read once and referred to the Committee on Housing
AN ACT to amend the administrative code of the city of New York, in relation to requiring the rent guidelines board to take other sources of income received by landlords from commercial rents and unregulated residential units into account when establishing annual calculations
The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Paragraph 3 of subdivision b of section 26-510 of the administrative code of the city of New York is renumbered paragraph 4 and a new paragraph 3 is added to read as follows:
(3) all other sources of income from buildings containing housing accommodations subject to this law including, but not limited to, commercial rents and rent from unregulated residential units, and the extent to which such changes offset changes in cost,
§ 2. This act shall take effect immediately, provided, however, that the amendments to section 26-510 of chapter 4 of title 26 of the administrative code of the city of New York made by section one of this act shall expire on the same date as such law expires and shall not affect the expiration of such law as provided under section 26-520 of such law.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD05438-01-7
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.