Lawmakers hold hearing on future of rent stabilization laws

Posted: Updated:
BROOKLYN -

Six New York state senators held a daylong hearing Thursday to discuss the future of rent stabilization laws.

Many Brooklyn residents spoke at the hearing, telling stories about how they are afraid to lose their homes.

Rent stabilization laws are set to expire in June. The tenants who testified said that they see this as an opportunity to change the status quo that they say has favored landlords and developers at their expense.

But some opponents of reform say that it will prevent landlords from maintaining their buildings. They say that reform would severely limit or eliminate necessary streams of revenue, which could lead to deteriorating housing conditions.

Lawmakers in Albany are considering a whole package of rent reform bills. There is just about a month left to act on the legislation before the current rent stabilization laws expire.

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