New York Rent Reform Package of 2019
On June 11, 2019, New York State Assembly Speaker Carl Heastie and Senate Majority Leader Andrea Stewart-Cousins reached an agreement on a comprehensive rent reform package that will limit or eliminate many previous laws and regulations, which includes the elimination of High-Income and High-Rent deregulation as well as limits to the Major Capital Improvement (MCI) and Individual Apartment Improvement (IAI) programs. However, the Rent Reform package did not include a universal rent control measure, which would have allowed the creation of new rent stabilized units, nor did it include the controversial Good Cause Eviction measure, which would have obligated all landlords to show “good cause” when evicting a renter. Governor Andrew Cuomo signed the historic rent reform act on Friday, June 14th, officially becoming law. The Heastie/Stewart-Cousins package will be permanent and will not expire without further legislative action.