Albany Bars Rent Rise For Thousands

A loophole in New York State’s rent regulations that would have led to sharp rent increases for thousands of tenants was closed last week by housing officials.

The rule allowed landlords withdrawing from government subsidy programs to immediately bring the rent in their apartments up to market rate by claiming that exiting the programs created a “unique and peculiar” circumstance.

Normally, such landlords are limited in how much they can adjust rents each year. Citing the exception, the owners of 23 buildings in New York City and Westchester and Nassau Counties had sought permission from the state to raise the rents to market levels in 4,400 units.