STATE RENTAL REGULATIONS EXPANDED

On June 14, 2019, Governor Cuomo enacted sweeping legislation, Housing Stability and Tenant Protection Act of 2019, expanding certain rent provisions STATEWIDE.  “The Emergency Tenant Protection Act of 1974 was expanded as part of this sweeping legislation.  The legislation also strengthened the substantive rights of residential tenants against landlords while bolstering tenants’ procedural rights in the face of an eviction.”

Some of the most notable provisions include:

1.    If a tenant breaks a lease, the landlord must attempt to re-lease the property.

2.    Security deposits are limited to 1 month’s rent.

3.    Processing, review or acceptance application fees are prohibited.

4.    Background check fees are limited to lesser of actual cost or $20.

5.    Late payment fees are capped to lesser of $50 or 5% of monthly rent.

6.    Landlord must give tenant 30-90 days’ notice to (1) increase rent 5% or more or (2) intention not to renew the lease.

7.    Damages in eviction proceeding are no longer recoverable.

8.    Grounds for eviction can be rendered moot if tenant pays in full prior to hearing.

There are a number of additional provisions that address timing, of eviction proceedings, warrants, etc., that landlords should be aware of. If you have rental units, talk with your attorney and find out how the new law applies to you.

Source: NYSAR (New Your State Association of REALTORS, Inc.), 13 Things to Know: Expansion of Rent Regulation and Tenant Protection, prepared for NYSAR by Harris Beach, PLLC, Attorneys at Law.