City Staff Ideas Challenge
#nycspeaks2022 Share your ideas for bold actions the Mayor should take
Lobby the State to make rent stabilization permanent and not dependent on vacancy rates
Rent stabilization offers a form of housing stability to almost one million households in the city but only applies when there is a "housing emergency," or a rental vacancy rate of 5% or less. Such a critical affordability tool should not be so fragile, especially if the City also plans to continue financing the construction of new units at a rate that would actually lower rents in the market to affordable levels. Lobby the State to remove this cliff in our laws before we fall over it.
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The Residential Rent Stabilization Ordinance, slope game approved by Saint Paul voters in November 2021, limits monthly rent increases to 3% in any 12-month period
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