Bill > S00467

This bill increases penalties for owners of rent-regulated properties who overcharge tenants by raising the financial penalty from three times to five times the amount of the overcharge. Under the new law, if a property owner is found to have deliberately overcharged rent in cities with fewer than one million residents or in towns and villages under an emergency housing declaration, they will now be liable to the tenant for a penalty equal to five times the overcharged amount, instead of the previous three times penalty. The bill clarifies that even if an owner voluntarily adjusts the rent or offers a refund after a complaint is filed, this will not be considered evidence that the overcharge was not willful. The legal regulated rent will continue to be determined by examining rent registration statements and rental history, with complaints allowed to go back six years. The penalty of five times the overcharge will be assessed for all willful overcharges within that six-year period. These changes apply to both the Emergency Tenant Protection Act and the New York City Administrative Code, aiming to provide stronger financial deterrents against illegal rent increases in rent-regulated housing.

Housing and Urban Affairs

https://www.nysenate.gov/legislation/bills/2025/S467