Anti-warehousing Bill proposed for rent stabilized units

David Goldsmith

All Powerful Moderator
Staff member

"Landlords who keep rent-stabilized units vacant could be forced to pay fees under a new bill introduced by a Manhattan lawmaker.

Under the rules, owners would have to pay a penalty of the last legal rent after a unit has been vacant for three months. They would then face a fee each month that works out to be 150% of the last legal rent. The money will be funneled into a fund set up by Homes and Community Renewal that will support homeless people. Landlords would be able to avoid the fee if they can show they are doing renovations on the units, and they aren’t able to rent them."