50,000 Apartments Are Rent Regulated Again Following A TPU Investigation

Photo credit: Wikicommons

Roughly 50,000 apartments throughout the city are rent regulated again and more than $2M will be returned to tenants who were overcharged by landlords, following an investigation by the state’s Tenant Protection Unit.

The TPU, set up by Gov. Andrew Cuomo, found the landlords of over 4,800 buildings had been improperly removed from the city’s roster of rent-regulated apartments, or were not charging tenants the rent mandated by state regulations.

In January the TPU announced it had uncovered an additional 50,000 apartments in over 4,000 buildings that would also be returned to rent regulation, after their landlords were found to be violating their affordable housing credits, DNA Info reports.

Delsenia Glover, a leading member of the Alliance for Tenant Power, tells DNA Info that while the TPU’s actions are a step in the right direction, they don’t go far enough.

Her organization estimates there are about 1 million apartments with roughly 2.5 million residents that should be rent regulated but aren’t. Stronger tenant protection legislation is needed to fix the problem, she says, not just stronger enforcement.

“The issue is we have to stop rent-regulated apartments leaving the system in the first place,” she says.

If the 421-a situation is any indication, that might be a pretty tall order. [DNA]

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's New York Newsletters
Related Stories

Camden Property Trust Sells West Coast Portfolio, Clears $1.5B Target

How Long Island Projects Can Cut Through Red Tape And Community Opposition To Cross The Finish Line

Bringing Stability And Savings To CRE Insurance Through Working Layer

Former Arms Dealer Targeting Heartland Apartment Takeover Files For Bankruptcy

SEC Charges REIT, Its Founders With Alleged $152M Fraud Scheme

Empire State Building Observation Deck Hemorrhaging Visitors, Value

Miami's Condo Craze Has Developers Spending Millions On Sales Galleries

Slate, Hudson Cos. Picked To Develop Massive Queens Housing Project

BXP's 343 Madison Lands $1.2B Loan, Nears Deal With Equity Partner

Ryan Cos. Secures Permit For Austin's Sixth Street Redevelopment

Rapper Rick Ross Joins 670-Unit Miami Gardens Condo Project

Mamdani Adds Millions To Program Helping Retailers Negotiate With Landlords