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Coalition of Owners Seeks “Responsible” Rent Reforms
A coalition of New York City building owners has taken to the airwaves to call on Albany to pass responsible rent reforms that protect tenants, but also do the same for small property owners who are already hard-pressed to maintain their buildings. Paid for by Taxpayers for an Affordable New York, the broadcast and cable TV ads, along with digital advertising, will run through June.
State lawmakers are considering a series of amendments to the rent regulation law, with a view toward improving affordability. Yet, the coalition says the reforms will hit small landlords as well as the city’s property tax base.
“The city has a serious affordability crisis, yet the proposals we’ve seen so far do nothing to ease vacancy rates, make apartments more affordable or create a single new affordable unit,” said John Banks, president of the Real Estate Board of New York.
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