Rent Control Legislation Signed

Mayor Williams signed new Rent Control into effect today for the first time in two decades. The compromise between landlords and tenants, “abolish[es] the city’s antiquated system of rent ceilings and replace it with legal restrictions that limit future rent increases to 2 percent of current rent plus inflation, or no more than 10 percent a year.” What I’d really like to know is, who represented who? Did we have orphans and grandmothers on the tenants side, and cigar-chomping businessmen on the other? Was it this stereotypical? The Post makes it seem like there’s a tenants union and a landlords union that get together and hammer out their differences in some smoky backroom somewhere near the Mayor’s office.

Not sure it’s that simple. There’s also a 30% increase limit between tenants, and provisions to protect the disabled and the elderly to a no more than 5% increase annually.

Anyone want to bet we’re going to see a lot 10% rent increases?

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