Bill > S06904

This bill provides a new legal framework for rent adjustments in housing accommodations that have been vacant for ten years or more and subsequently restored. Specifically, the bill allows property owners to set a new legal regulated rent for such units based on the first lease agreement after restoration, with important limitations. The new rent cannot exceed the Section 8 voucher payment standard for a similarly-sized unit in the same zip code, and is subject to an audit process by the Division of Housing and Community Renewal. To qualify for this "local regulated housing restoration adjustment," owners must provide documentation proving the unit's restoration, including lead testing results, contractor certifications, new appliance installations, and before-and-after photos. The bill also includes provisions to prevent potential abuse, such as prohibiting the adjustment for units that have been subject to unlawful eviction or are in buildings under alternative enforcement programs. Tenants are given the right to challenge the new rent if they believe it exceeds the Section 8 voucher payment standard, and the bill encourages rental to housing subsidy voucher holders, particularly in low-income communities, by establishing potential incentives for such rentals.

Housing and Urban Affairs

https://www.nysenate.gov/legislation/bills/2025/S6904