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Rent Won't Go Up For Thousands In NYC

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Nov 26, 2007 1:20 pm US/Eastern

Rent Won't Go Up For Thousands In NYC

Loophole For Landlords Withdrawing From Government Subsidies Closed

NEW YORK (AP) ―

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Thousands of New York City tenants can breathe easy after housing officials closed a loophole in the state's rent regulations that would have increased their rents sharply.

The rule allowed landlords withdrawing from government subsidy programs to immediately bring the rent in their apartments up to market rate by claiming that exiting the Michell-Lama program created a "unique and peculiar" circumstance.

The owners of 23 buildings in New York City and Westchester and Nassau Counties had sought permission from the state to raise the rents to market levels in 4,400 units.

Tenants and housing advocates said the increased rents in the affected buildings would have forced many residents -- many of them seniors on a fixed income and disabled families -- to move out.

The Division of Housing and Community Renewal officially closed the loophole last Wednesday by amending the regulation.