Mayor Extends City's Rent Stabilization Laws
On March 30, Mayor Bill de Blasio signed into law Intro. 685, which extends the city's rent stabilization laws for another three years, until April 1, 2018. The mayor has asked Albany to also follow the city's suit as the Urstadt Law of 1971 comes up for renewal this June. The city extension will stick only if the state renews the law.
The city's 2014 Housing Survey found that the rental vacancy rate is 3.45 percent, indicating a housing emergency. "Rent regulations are vital to protecting New Yorkers from displacement and keeping our communities whole," he said in a statement. "We will fight alongside our partners in the City Council and our delegation in the State Legislature to ensure we have the tools we need to preserve more than a million rent-stabilized apartments."