After lots of illegal hotel complaints, a rally at City Hall, and even international interest, Governor Paterson signed the illegal hotel ban?which prevents residential apartments being rented for stays less than 30 days?into law on Friday. According to the governor's statement, the bill becomes effective May 1, 2011, which gives New Yorkers who make ends meet by renting out their apartments almost a full year to complain and Hotel Toshi a little extra time to clear out.
But it's not all bad news for cash-strapped New Yorkers, the Times reminds us. They still have lofts! In fact, with the loft law passed last month, there's a new class of "rental royalty"?loft tenants who were living illegally in Williamsburg, Bushwick, and other 'hoods. Thanks to the law, they're now protected against eviction and eligible for rent stabilization. One of the lucky ducks, who's spent 10 years in a Williamsburg loft, pays $2,500/month in rent for his 1,200 square feet. But many illegal loft tenants might opt not to apply for legalization, says the Times, because they prefer life on the slightly shady side. Hey, if a loft isn't legal, can it be illegally sublet?
· Ban on Illegal Hotels Putting the Squeeze on the Little Guy? [Curbed]
· Law Gives Tenants of Illegal Lofts Path to Legality [NYT]