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100,000 Affordable Rental Apartments Could Soon Be Lost

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With New York's rent regulation laws up for renewal on June 15th, Mayor de Blasio is pushing for a number of changes including and end to vacancy decontrol, the process by which landlords can deregulate units once the rent reaches a certain amount (currently $2,500, raised from $2,000 the last time the laws were renewed in 2011). Putting an end to that practice is an important aspect of de Blasio's plan to create or preserve 200,000 units of affordable housing over 10 years, and a report from the Daily News shows that failing to do so could be disastrous. Apparently, more than 100,000 apartments could become deregulated in the coming months, including almost half of the 19,000 rent-regulated apartments in Tribeca and lower Manhattan. Meanwhile, de Blasio and Cuomo are quibbling over, well, a lot of things, but some kind of deal will need to be struck within the next two weeks—as Cuomo put it, letting the laws expire would lead to "mayhem and chaos."

· EXCLUSIVE: More than 100,000 rent-regulated apartments may surge to higher rates due to state law loophole [NYDN]
· The Cuomo-de Blasio Spat Could Have Serious Consequences for New Yorkers [Daily Intel]
· How New York's Complex Rent Laws May Change—and Soon [Curbed]
· 3 Ways De Blasio Wants To Protect Rent-Regulated Tenants [Curbed]