Today, Rachel Fee testified at the public hearing regarding Rental Housing & Tenant Protections in front of New York State Assembly Housing Committee. Assembly Speaker Heastie and Assembly Housing Committee Chair Cymbrowitz have put forward a powerful package of reform proposals which will protect renters with the goal of stemming this worsening crisis. We support many of these reforms including ending vacancy decontrol and reforming preferential rents, but recognize the need for a balanced approach, which strengthens rent law protections for tenants, while also ensuring that owners have the incentive to invest in a sustained manner in our housing stock.
It is important that policy changes are considered in a holistic manner including 1) protections for renters; 2) an enforcement effort which is adequately staffed; 3) incentives for investment; and 4) the process for rent setting conducted by the RGB. All of these aspects of the rent laws should be reformed in a coordinated approach as they are interconnected. A balanced approach will expand protections for renters, prevent the abuse and speculative practices currently allowed by the system while also ensuring continued investment in the rent stabilized housing stock. Please read NYHC’s full testimony here.