Governor Kathy Hochul has signed a bill that will extend the deadline for local governments to declare a housing “emergency” so as to extend rent control, until July 1, 2022. What this means in New York City, is that the Department of Housing Preservation and Development will have more time to compile the Housing Vacancy Survey. By law the state needs a 5% vacancy rate. This extension will give the state more time for people to move back to the city and get the vacancy rate down.

 

Attorney General Letitia James, a candidate for governor, has backed “Good Cause” Evictions. For those of you who don't know this, the bill would give tenants the right to a lease renewal and it would curb unlimited rent hikes in non-stabilized apartments. Governor Kathy Hochul, is running next year for reelection, however she has not taken a firm position on this legislation. She has said that she is committed to helping New Yorkers stay in their homes and she will carefully review all legislation that reaches her desk.

 

In other news, according to an article posted by the npr.org, evictions are rising even though renters are receiving rental assistance. Although tenant activists warned us of the tsunami of evictions coming our way once the federal moratorium expired, fillings are still below pre-pandemic rates. The numbers in the article raise a very important issue, and it's that there is not enough money allocated to cover tenants' rent arrears, which means evictions are inevitable. If you want to know more click on the link below.

 

Have a great weekend!