What is the New York Housing Stability and Tenant Protection Act of 2019?

What is the New York Housing Stability and Tenant Protection Act of 2019?

The New York Housing Stability and Tenant Protection Act of 2019 (HSTPA) is a comprehensive law that aims to protect tenants and provide stability in the state's housing market.

What are the key provisions of the HSTPA?

The HSTPA was signed into law on June 14, 2019, and went into effect on September 1, 2019. The law is intended to address the state's affordable housing crisis by providing more protections for tenants and making it easier for them to stay in their homes.

What are the changes to lease agreements under the HSTPA?

One of the key provisions of the HSTPA is the requirement that landlords provide written notice to tenants before increasing rent. The law also prohibits landlords from increasing rent more than 5% per year, unless the tenant agrees to a higher increase. Additionally, the HSTPA requires landlords to provide tenants with a written lease agreement that includes certain disclosures, such as the amount of rent and the length of the lease.

What are the changes to rent stabilization under the HSTPA?

The HSTPA also makes changes to the state's rent stabilization laws. Under the new law, rent stabilization applies to all apartments in New York City, not just those in buildings with six or more units. The law also increases the maximum rent increase for rent-stabilized apartments from 4% to 5% per year.

What are the new protections for tenants who are victims of domestic violence under the HSTPA?

Another key provision of the HSTPA is the requirement that landlords provide tenants with a written notice of eviction. The law also prohibits landlords from evicting tenants without just cause, such as non-payment of rent or violation of the lease agreement.

Can tenants terminate their lease agreement and move out of their apartment without penalty under the HSTPA?

The HSTPA also provides new protections for tenants who are victims of domestic violence. Under the new law, tenants who are victims of domestic violence can terminate their lease agreement and move out of their apartment without penalty.

What are the key takeaways from the New York Housing Stability and Tenant Protection Act of 2019?

In conclusion, the New York Housing Stability and Tenant Protection Act of 2019 is a comprehensive law that aims to protect tenants and provide stability in the state's housing market. The law makes significant changes to lease agreements, rent stabilization, and eviction procedures, and provides new protections for tenants who are victims of domestic violence. Landlords and tenants should be aware of these changes and understand their rights and responsibilities under the new law.