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NEW YORK CITY—Tenant advocacy groups are heralding the “Housing Stability and Tenant Protection Act of 2019” signed by New York Governor Andrew Cuomo last month. They say the legislation provides needed safeguards against rising rents and will help keep people secure in their apartments. Landlords has complained that the package of laws will prevent owners from investing in renovating existing properties and building new housing.
New York Law Journal reporters Bryan Mohler and Rachel Shaw revisit the laws, summarizing exactly how they will affect landlords, tenants and New York City. They also look into what's going to happen next. This includes several prominent real estate groups challenging the new law on constitutional grounds, saying the changes amount to an unlawful taking of property. They predict a greater interest of owners in acquiring non-rent regulated apartments.
Read the full article on GlobeSt.com's sister publication the New York Law Journal.
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Betsy Kim
Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.
