Res 0619-2015

By Council Members Menchaca, Williams, Chin, Gibson, Kallos, Lander, Levin, Levine, Rodriguez and Rose Whereas, The 2014 Housing and Vacancy Survey (HVS), conducted by the Department of Housing Preservation and Development (HPD), indicated that there are currently 1,030,000 rent stabilized units and 27,000 rent controlled units in New York City; and Whereas, Roughly 30% of New York City renters are severely rent burdened and pay more than 50% of their household income in rent; and Whereas, According to the 2014 HVS the median annual income for renter households did not significantly change between 2010 and 2013, but the median monthly gross rent rose by 4.3% between 2011 and 2014; and Whereas, Under the rent regulation system, rent increases annually or biannually, and once the rent hits $2,500 a month, and the tenant vacates the unit, or the tenant is found to have an income above $200,000 two years in a row, the unit may be deregulated; and Whereas, When a tenant leaves a rent stabilized unit, and when a tenant in a rent controlled units leaves and is replaced by a lawful successor, the owner may legally raise the rent by up to 20%; and Whereas, Rents may also be increased in rent regulated units when owners make major capital improvements or individual apartment improvements; and Whereas, Once an apartment is deregulated owners can evict tenants at the end of their lease without restriction and increase the rent at will, resulting in the City losing another unit of affordable housing; and Whereas, According to the 2014 HVS, New York City is currently in the middle of an affordable housing crisis; now, therefore, be it Resolved, That the Council of the City of New York calls upon the New York State Legislature to pass and the Governor to sign legislation that would end deregulation of rent regulated apartments. LS # 4000 JW 3/5/15-12:28p - 2 -