Starting August 18, landlords are required to inform tenants if their apartments are subject to "good cause" eviction protections, enabling challenges against high rent increases.
The law defines excessive rent increases as those exceeding 10 percent or the annual inflation rate plus 5 percent, with current thresholds set at 8.82 percent in New York City.
Many buildings remain exempt from the law's provisions, complicating the identification process for tenants and landlords regarding which apartments are covered.
Legal experts suggest the law's true impact will evolve in Housing Court, where unclear terms may lead to further confusion for both tenants and landlords.
Collection
[
|
...
]