Rent-control rules set to expire

With rent-stabilization regulations set to expire, lawmakers in Albany appear no closer to reaching an agreement, leaving tenants worried about the fate of their apartments. State lawmakers broke from

News 12 Staff

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Jun 12, 2015, 4:44 PM

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Updated 3,428 days ago

With rent-stabilization regulations set to expire, lawmakers in Albany appear no closer to reaching an agreement, leaving tenants worried about the fate of their apartments.

State lawmakers broke from work for the weekend Thursday without reaching a compromise on extending the city's rent-control regulations, which are set to expire Monday.

The Assembly has approved an extension, but the Senate has yet to take up any proposal, with lawmakers floating a short-term extension to allow for more time to consider more significant changes.

At meetings across New York, tenants have been urging local leaders to help renew and strengthen rent-control rules. The rules affect more than 1 million apartments in and around the city.

New York City's rent board is considering an increase of up to 2 percent for one-year leases and up to 3.5 percent for two-year leases.

Some insiders believe that the easiest decision may be to renew the current policies, but there is no agreement about that potential extension.

This year's legislative session will close later next week.