The article discusses the implications for tenants in Manhattan with 421-a benefits set to expire in July 2026. It emphasizes that if a tenant's unit is rent stabilized when their lease ends in March 2026, they have the option to renew for a year or two. However, once the benefits expire, protections end unless certain lease conditions are met, and that could lead to rent increases. The article also notes that the Good Cause Eviction Law may provide some tenant protections against non-renewal or eviction without just cause.
If your unit is rent stabilized when you sign your new lease next March, then you, not your landlord, will be able to choose whether to renew for one or two years.
Once the benefits expire, your rent-stabilization protections will end when your lease ends, as long as the riders were included in every lease packet.
If there is not a rider with each one informing you of the tax benefits... your unit could be rent stabilized until you or a lawful successor permanently vacates.
New York state's Good Cause Eviction Law could protect you from eviction or from a landlord who declines to renew your lease without good cause.
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