Cuomo: Rent Regulation Expiration Would Create Chaos
Governor Andrew Cuomo is asking landlords to recognize the rights of their tenants as several laws that created New York City's rent regulation system are set to expire.
In a letter sent to landlords of rent regulated properties a day before the June 15th expiration date, Cuomo said new rent stabilization laws would be retroactive and that landlords must honor the terms of existing leases.
"And my main point is 'So, Mr. Real Estate Landlord, don't think there's any opportunity for you to exploit the tenants because the law will be extended."
The State Senate introduced a bill Friday that would extend rent regulations for 8 years. Cuomo said he wants further protections for tenants.
Assembly Democrats had scheduled a conference Sunday discuss the matter. Cuomo pledged to call a special legislative session every day until a package of new rent regulation laws is passed.