The US Supreme Court's decision to not hear challenges to New York's rent stabilization law ensures protections for a million apartments, reinforcing affordable housing efforts.
Landlords argued that New York's regulations on eviction protocols violate the Fifth Amendment, likening them to unconstitutional takings. However, their challenges were denied.
The 2019 Housing Stability and Tenant Protection Act significantly changed rent-stabilized regulations, banning practices like vacancy decontrol and large capital improvement rent hikes, ensuring stability.
Over two million renters benefit from New York's Rent Stabilization Law, a crucial measure since 1969, aimed at preventing displacement and alleviating the homelessness crisis.
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