Bill > A08646

This bill regulates buyout agreements within rent-regulated apartments between a landlord and current tenant, and provides penalties for harassment by a landlord. It defines key terms like "buyout agreement" and "commissioner," and sets requirements for the content and timeline of buyout offers. The bill also mandates that landlords report certain information about executed buyout agreements to the Division of Housing and Community Renewal, and establishes penalties for failing to comply with the provisions of the bill. The bill aims to protect rent-regulated tenants from harassment and ensure they have adequate time and information when considering a buyout offer from their landlord.