NY lawmakers close ‘Frankenstein’ loophole used by landlords to spike regulated rents

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NY lawmakers close ‘Frankenstein’ loophole used by landlords to spike regulated rents
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New York lawmakers are closing an increasingly common loophole in the state’s housing laws that allows landlords to combine empty rent-stabilized apartments and jack up the monthly price.

Make your contribution now and help Gothamist thrive in 2023.New York lawmakers are closing a “Frankensteining” loophole in the state’s housing laws that allows landlords to combine empty rent-stabilized apartments and jack up the monthly price.

Once apartments are combined, landlords can set whatever rent they want. State law also allows owners to take newly merged apartments out of rent-stabilization if one of the units was unregulated.late Tuesday, weeks after the Senate approved its own version.

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