Mayor Signs Rent-Regulated Tenant Protection Bills
Mayor de Blasio recently signed three bills into law designed to protect rent-regulated tenants from pressure to agree to buyouts or cash payments in return for giving up their apartments. Among the laws, which take effect in 90 days, is one that prevents owners from pressuring tenants into accepting buyout offers or making offers within 180 days of a tenant refusing an offer. They also require owners to notify tenants of their right to stay and to hire a lawyer in writing.
“There are too many cases in this city of landlords using cash to get rent-regulated tenants to move so the landlords can charge sky-high rents,” de Blasio said at a bill-signing ceremony in The Bronx. The bills impose penalties of up to $10,000 for a first offense per unit and up to $20,000 in fines for additional violations.