Yardi Matrix Bulletin Examines New York Rent Control Law

Controversial measure impacts stabilized unit transitions and capital improvements

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Aug 01, 2019, 15:52 ET

SANTA BARBARA, California, Aug. 1, 2019 /PRNewswire/ -- New York state's Housing Stability and Tenant Protection Act of 2019 limits rent increases when stabilized units are vacated and caps rent increases made in conjunction with capital improvements to properties. Affordable housing advocates applaud the legislation as a boon to renters, especially those in New York City's five boroughs, while others worry it will lead to a deterioration of housing stock and an exodus of development and investment.

A new bulletin from Yardi® Matrix weighs in on the new law and the turmoil surrounding it. The bulletin, "New York Rent Control: Paved With Good Intentions" is available for download.

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Yardi^® develops and supports industry-leading investment and property management software for all types and sizes of real estate companies. Established in 1984, Yardi is based in Santa Barbara, Calif., and serves clients worldwide. For more information on how Yardi is Energized for Tomorrow, visit yardi.com.

SOURCE Yardi