Tag

Rent Stabilization

All articles tagged with #rent stabilization

us-news6 days ago•26 min saved

DefCon 1: NYC rents hit record highs as housing crisis deepens

New data show New York City’s housing crunch is at DefCon 1, with Manhattan one-bedroom rents averaging $5,408 and a $5,295 median for all apartments in June 2026, and Brooklyn at $4,297 for a one-bedroom. Despite a city-wide rent freeze on rent-stabilized units, rents rose to record levels amid a 5.6% vacancy rate and about 57,000 vacant rent-stabilized apartments. Critics urge zoning and regulatory reforms to add affordable units and speed up construction, while landlords cite ongoing costs as a factor in rising rents.

via New York Post|

#affordability #housing #new-york-city

us-news22 days ago•24 min saved

NYC rent-freeze could shift costs to market-rate tenants, warns RGB economist

New York City’s Rent Guidelines Board approved a two-year rent freeze for most units, a move tied to Mamdani’s campaign promise. However, the RGB’s lone economist, Arpit Gupta of NYU, warned the policy will likely push upward pressure on rents in market-rate buildings as stabilized housing stalls, potentially shifting costs to market-rate tenants. With about 1.3 million market-rate units and roughly 960,700 rent-stabilized units (and many stabilized units vacant), the plan could have wide-reaching effects; one board member resigned in protest, signaling deep controversy over the policy’s impact and funding.

via New York Post|

#mamdani #nyc-housing #rent-freeze

local-government8 months ago•5 min saved

LA City Council Considers 3% Rent Hike Cap Amid Landlord Concerns

The Los Angeles City Council approved significant updates to the Rent Stabilization Ordinance, setting a new allowable rent increase range of 1% to 4%, removing additional utility charges, and aiming to balance tenant affordability with landlord interests, amid ongoing housing affordability concerns.

via ABC7 Los Angeles|

#city-council #housing-affordability #local-government

politics11 months ago•4 min saved

Political Tensions Rise Over NYC Housing and Rent Issues

Andrew Cuomo proposed 'Zohran's Law,' a controversial housing policy that would impose income limits on tenants applying for rent-stabilized apartments, but the proposal faces skepticism from lawmakers and tenant advocates, and appears unlikely to be adopted.

via City & State New York|

#andrew-cuomo #housing-policy #income-limits

politics2 years ago•5 min saved

"NY Lawmakers Reach Compromise on Controversial Housing Deal"

Gov. Kathy Hochul and Democratic lawmakers are close to reaching a housing deal in New York, but the proposed package is facing criticism from both tenant and landlord groups. The deal includes reviving a tax break for NYC housing developers, enacting "Good Cause" eviction measures, and easing building size restrictions. Tenant groups are unhappy with carve-outs in the eviction provisions, while landlord groups are critical of the proposed changes to rent regulations. The final plan could be put to a vote as soon as Monday.

via Gothamist|

#albany #housing-deal #new-york-city

legal-real-estate2 years ago•3 min saved

"Supreme Court Upholds New York Rent Stabilization Laws"

The U.S. Supreme Court declined to hear challenges to New York's rent stabilization laws, which cap rent increases on about 1 million apartments citywide, brought by landlords who argued the regulations prevented them from evicting tenants after their leases expired. The court's decision not to take up the case leaves the possibility of future challenges open. Landlord groups are urging state lawmakers to revise regulations that limit rent increases on vacant apartments and apartment renovations, while lawmakers are open to reviewing rules capping increases related to individual apartment improvements. Gov. Kathy Hochul stated that the regulations are crucial tools to fight inequality and preserve affordability.

via Gothamist|

#landlords #legal-real-estate #new-york

politics2 years ago•6 min saved

"Washington State House Approves Rent Stabilization Bill to Aid Renters"

The Washington State House passed a bill to cap rent increases at 7% in buildings constructed more than ten years ago, offering renters some financial stability, but the legislation faces an uphill battle in the Senate where Democratic support is uncertain. The bill aims to address the steep rent hikes experienced in the state, particularly in Seattle, due to gentrification and lack of housing planning. Despite support from some landlords and successful implementation in other West Coast states, some Senate Democrats remain hesitant, prompting calls for constituents to advocate for rent stabilization at upcoming town halls.

via The Stranger|

#housing-market #legislation #politics