New York City has two new affordable housing laws that expand the city’s critical rent stabilization protections and strengthen data collection and reporting on a critical eviction prevention program.
The laws, which were signed by Mayor Eric Adams on Monday, extend the expiration of the Rent Stabilization Law from July 1, 2022, to April 1, 2024, allowing rent regulation renewal to run its course. ordinary triennial cycle. Additionally, they increase transparency around the City’s Homelessness and Eviction Prevention Supplement (CityFHEPS) rental assistance voucher.
“I want to say to New Yorkers who are fighting, the city has your back,” said Mayor Adams. “Too many New Yorkers struggle to keep a roof over their heads and put food on the table. I know that concern and that fear, and today we are alleviating some by extending rent stabilization protections and strengthening a critical rental assistance and eviction prevention program.”
The Mayor signed the following bills:
- Introduction 558: Extends the city’s Rent Stabilization Law through April 1, 2024, in recognition of the ongoing housing emergency. Previously, it expired on July 1, 2022.
- Introduction 303– Expands on the data that New York City DSS and the New York City Human Resources Administration track and report annually regarding the CityFHEPS rental assistance voucher for individuals and families experiencing or at risk of homelessness due to failure to pay rent. The data includes the number of households currently enrolled in the program, the number exiting New York City Department of Homeless Services shelters through a CityFHEPS voucher, and the types of client households broken down by if a family has children and speaks the main language.
The legislations arrive almost a week after that the New York City Rent Regulatory Board voted to raise rents for millions of people in rent-stabilized apartments.
By a 5-4 margin, the Rent Regulatory Board approved two rate increases on Tuesday, June 21: a 3.25 percent increase on one-year leases and a 5 percent increase on 2-year leases.
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