There are currently nearly 2.5 million New Yorkers living in approximately 1 million rent regulated apartments - making rent regulations by far New York's largest affordable housing program. 750,000 of these renters are living at or below the poverty line which means that if rent regulations were to end today, many of these New Yorkers would have their rents raised to unaffordable levels and our already overburdened shelter system would quickly find its ranks explode.
Due to a fiscal crisis in the 1970s the authority to establish rent laws was transferred to New York State. This means that although most State Legislators have no rental housing in their districts they have power over the laws and regulations that New York City's 2.5 million renters depend upon for their housing security. This has resulted in consistent weakening of rent laws over the past decades resulting in the deregulation of an estimated 300,000 affordable units over the past 20 years exacerbating the affordable housing crisis.
New York's rent laws are scheduled to be renewed again on June 15, 2015. With the State Senate now in the firm control of the Republican party which tends to be more sensitive to the concerns of the real estate lobby, tenant advocates are very concerned that in negotiations with the traditionally pro-tenant Assembly, New York City's rent laws may be weakened again resulting in the loss of more affordable housing, weaker enforcement of tenant protections, and more pressures on low income tenants. The Interfaith Assembly will continue to monitor this issue and advise you of the need for action to ensure that affordable housing is preserved and tenants' rights are protected.