If you’re a New Yorker, chances are you’ve heard something about the recent change in NYC Rental Laws. The new rules effect both renters AND landlords – and they are applicable to all residential rental units. What are the new laws? Keep reading about the New York State Housing Stability and Tenant Protection Act of 2019.
The new law applies to all residential rental units, including rent regulated and free market, co-ops and condo units.
No deposit or advance can exceed one month’s rent.
Within 14 days of tenant vacating premises, landlords must return security deposit and if retaining any portion thereof, must provide an itemized statement and reason within the time period.
Where a tenant vacates a property in violation of terms of lease, the landlord must mitigate damages by renting premises.
It is unlawful to refuse to rent to a prospective tenant because he/she is or was involved in a prior landlord/tenant summary proceeding.
Fees charged for credit and background check (“Report”) are limited to its actual cost or $20.00, whichever is less. Tenant must be given a copy of the Report and actual receipt showing cost.
If tenant gives the landlord a Report conducted in last 30 days, fees must be waived.
Eliminates vacancy bonuses.
Cost of renovations can only be passed on to tenants for 15 years.
Landlords can only pass on to tenants 2% of the construction cost of Major Capital Improvements (MCI).
Judges can push back an eviction for up to 1 year to allow a tenant to find suitable living arrangements in the same neighborhood at a similar rent.
If a landlord uses force to evict a tenant or illegally locks tenant out, the landlord can be charged with a misdemeanor crime of unlawful eviction and charged with a civil penalty of $10,000.00 per violation.
51% of tenants in a rent-stabilized apartment must agree to a tenant or co-op conversion.
Landlords cannot charge a late payment fee higher than $50.00.
If a landlord plans on raising rent over 5% or not renewing a lease, the tenant must be given at least one month’s notice.
Now these are just a list of the highlights within the new rules. We highly recommend consulting with an attorney regarding specific details – especially if you feel your landlord is in violation.
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