Today, The New York Times published an article titled, “Tentative Deal in Albany Would Extend Rent Laws; Key Issues Are Unresolved.”
Townhouse owners with rental units, please read this article by THOMAS KAPLAN and JESSE McKINLEY.
The tentative deal announced Tuesday must still be approved by lawmakers. The agreement was announced largely without specifics, and without bill language spelling out what had been negotiated, making it difficult to determine what, exactly, had been decided.
As part of the agreement, the rent threshold at which a vacant apartment can be deregulated will increase to $2,700, from $2,500. That threshold would rise in the future based on increases in regulated rents approved by the Rent Guidelines Board.
-Excerpted from The New York Times