Andrew Cuomo proposed a controversial plan to cap incomes for new tenants in rent-stabilized units, stating such units should be reserved for those needing affordable housing. His plan requires that rent accounts for at least 30 percent of tenant income, leading to fears that new residents could become rent-burdened. The proposal faced significant backlash from political opponents and tenant advocates, arguing it contradicts previous rent laws aimed at protecting lower-income residents. Nearly a million apartments provide rent stabilization for 2.4 million residents in New York City.
Andrew Cuomo proposed capping incomes for tenants of rent-stabilized units, stating that these should only go to those needing affordable housing. He claims this prevents abuse of the system.
Cuomo's plan would mandate that rent for these units represents 30 percent or more of the tenant's income, leading to potential rent-burdening for new residents.
Political opponents, tenant groups, and real estate insiders criticized the proposal, arguing it may force new residents to spend over a third of their income on housing.
Cuomo previously signed 2019 rent laws that eliminated hikes for wealthy families in stabilized units, raising questions about the consistency of his latest proposal.
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