NYC Tenant buyouts- New rules

Mayor Bill de Blasio is set to sign legislation that will curb communications between landlord and rent regulated tenants concerning buyouts. There are approximately 1.3 million rent-restricted apartments in NYC and some tenants complain of being harassed to vacate. According to LINK, some 266,000 apartments have been deregulated since 1994. Tenant advocacy groups say that tenants get repeatedly harassed into accepting offers and leaving. Tenant related harassment complaints have doubled since 2011 in city Housing Court.

With the new law, landlords would have to wait 6 months to re-approach a tenant who has rejected their offer to relinquish the apartment. What do you think? Is this going to curb harassment of tenants in rent regulated apartments?

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