Proposed Bill Would Hike Fines for Rent Overcharges
A new bill in Albany would set tougher fines for owners who overcharge their rent-stabilized tenants. The bill by Sen. Brad Hoylman and Assemblywoman Linda Rosenthal, both Democrats, would increase penalties against landlords to five times the amount of the overcharge, plus interest, for a first violation and 10 times the amount for subsequent violations.
Under current law, owners found to be overcharging tenants in rent-stabilized apartments are hit with penalties of three times the overcharge for each violation. In drafting the bill, Hoylman and Rosenthal cite a recent ProPublica report that found as many as 200,000 apartments in New York City that should be rent stabilized under the law are not.