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Senate and Assembly reach deal on rent laws. It doesn’t look good for the industry.

DATE POSTED:June 12, 2019

Senate Leader Andrea Stewart-Cousins and Assembly Speaker Carl Heastie reached an agreement on sweeping changes to the state’s rent laws Tuesday evening. If the package passes both houses and is signed into law by Gov. Andrew Cuomo as expected, the real estate industry will be dealt its biggest legislative blow in decades. And it could have been much worse. The two houses have agreed to support the elimination of vacancy decontrol — which allows landlords […]