New York's Cooperative and Condominium Community

Habitat Magazine December 2020 free digital issue

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ARCHIVE ARTICLE

Rent Stabilization Law

NYC Admin Code 26-501

Rent-stabilized tenants are not subject to the rules that everybody else lives by in a co-op. There is no obligation for them to observe the house rules. Their rules, rights, and obligations are spelled out in the Rent Stabilization Code. a co-op board has neither the power nor the right to change those rules.

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"There are over one million rent-regulated tenants left in New York City, and almost all co-ops have one. When a rent-regulated tenant is a hoarder or has bedbugs or some other problem that affects the co-op, boards have to respond. How they do that is the hard part. Generally, the board cannot act directly against the regulated tenant who remains in the coop after the building underwent a conversion. The board must act against its holder of unsold shares, but that holder is constrained by the rent stabilization law as to what actions can be taken against this legacy tenant."

To read the full lecture, visit: http://bit.ly/ALBailey

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