Landmark deal reached for rent reform | Manhattan Times

The state legislature has reached a landmark agreement to renew New York’s rent laws and expand tenant protections.

Key components of the deal include a permanent extension of the rent regulation laws, which were set to expire on June 15, as well as a repeal of vacancy bonus and vacancy deregulation.

The agreement was reached on Tuesday evening, with Senate Majority Leader Andrea Stewart-Cousins and Assembly Speaker Carl Heastie releasing a joint statement about the deal.

“These reforms give New Yorkers the strongest tenant protections in history. For too long, power has been tilted in favor of landlords and these measures finally restore equity and extends protections to tenants across the state. These reforms will pass both legislative houses and we are hopeful that the Governor will sign them into law. It is the right thing to do,” the statement said. “None of these historic new tenant protections would be possible without the fact that New York finally has a united Democratic Legislature. Our appreciation also goes to the tenant advocacy groups and activists that fought so hard to make this possible.”

Read more: Landmark deal reached for rent reform | Manhattan Times

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