housing

Under a new state law, signed by Gov. Kathy Hochul on Dec. 8, a clear protocol is laid out for how a vacancy study is conducted, the results of which determine whether a city qualifies for rent stabilization. Under the bill, landlords would be required to respond, or risk being fined $1,000 and losing their certificate of occupancy. Absent a response, a property would be recorded as fully occupied, thus driving down the city vacancy rate and making it more likely to meet the threshold for rent control.