A law affecting rents paid by 2 million New York City tenants expired late Monday as state lawmakers failed to reach an agreement on extending it before a midnight deadline.
From VIN News:
As talks between legislative leaders and Democratic Gov. Andrew Cuomo dragged on past the long-awaited expiration date, tenants, Democratic Mayor Bill de Blasio and many rank-and-file lawmakers slammed the Legislature’s inability to craft a compromise in time as the latest example of dysfunction in Albany.
The rent regulations cover some 1 million rent-controlled and rent-stabilized units in and around New York City. The longstanding rules, which must be renewed in Albany periodically, dictate rent increases and eviction policies and are seen as a key protection for affordable housing in the nation’s largest city.