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A comment on New York is about to crack down on short-term rentals on September 5th. Parent comment

Re:New York is about to crack down on short-term rentals on ... by nobody9999 on Sunday August 27, 2023 @07:37AM (#37281623)
>This is not true. I've lived in multiple brand new rent stabilized buildings in Brooklyn with rents above $2500/mo over the last decade.

TIL that certain buildings with j-51, 421-a and 421-g[0][1] tax abatements are also covered under the rent stabilization law. However, not all apartments currently covered by rent stabilization under those tax abatement rules will remain rent stabilized. See the links below and check your lease as you might be in for a nasty surprise.

I'd add that as of 2019, there is no maximum rent for rent stabilization either[2]. I've edited my original comment to reflect that.

Thanks for enlightening me.

[0] https://hcr.ny.gov/system/files/documents/2022/09/fact-sheet...

[1] https://rentguidelinesboard.cityofnewyork.us/resources/faqs/...

[2] https://rentguidelinesboard.cityofnewyork.us/resources/rent-...

[ Parent | on HN ]
Re:New York is about to crack down on short-term rentals on ... by leotravis10 on Monday August 28, 2023 @02:41PM (#37298663)
There's a group dubbed "Friends of the Court" and others want to kill NYC's rent stabalization laws and they're already asking the Supreme Court to take the case.

Article: https://www.levernews.com/friends-of-the-court-ask-scotus-to... Discussion: https://news.ycombinator.com/item?id=37298543

There's a very good chance that the housing crisis might get even worse before it gets better.

[ Parent | on HN ]
Re:New York is about to crack down on short-term rentals on ... by mdhen on Tuesday August 29, 2023 @05:33AM (#37305256)
Rent stabilization causes increased rents for those without it. It is nice to have though, I used to have one in a 421a building. Really nice spot.
[ Parent | on HN ]
Re:New York is about to crack down on short-term rentals on ... by nobody9999 on Wednesday August 30, 2023 @08:53AM (#37321284)
>There's a group dubbed "Friends of the Court" and others want to kill NYC's rent stabalization laws and they're already asking the Supreme Court to take the case.

You mean these guys[0]? They've got their fingers in a lot of pies!

[0] https://www.law.cornell.edu/wex/amicus_curiae

[ Parent | on HN ]