Year of the Tenant? Landlords Warn of Foreclosure If Albany Changes Rent Laws

From Eliot Brown:

Flanked by a handful of smiling New York City–based colleagues, Mr. Silver stood at a wooden podium and announced the forthcoming passage of a full slate of extensive tenant-protection bills that would radically alter rental laws. Through 10 separate bills, the legislation would newly empower tenants and layer vast new restrictions on landlords.

Until now, such annual acts—Mr. Silver held a similar press conference in the same room last May—had no real-world consequences, as the legislation invariably crashed into the brick wall of the long-dominant Senate Republicans, who were allied with the real estate industry.

But last month, Democrats assumed control of the Senate for the first time in more than four decades, making the prospect of new or expanded tenant-friendly rent regulations a reality.

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Year of the Tenant? Landlords Warn of Foreclosure If Albany Changes Rent Laws