Gov. Cuomo’s move to shore up the rent laws is terrible news for city housing.
Cuomo is calling for the end of vacancy decontrol — i.e., laws that let landlords turn regulated “luxury” apartments into market-rate units. He also wants to limit how much they can legally tack on to regulated rents to cover the cost of improvements. And he’d limit security deposits to no more than one month’s rent.
This lets the gov pose as a champion of the little guy, but it’ll just hasten the decline of buildings whose owners struggle to make ends meet. It’ll also further tighten the city’s already squeezed-to-the-gills housing market and…
