Paterson Proposes Rent Regulation Reform

This story, in slightly different form, originally appeared in the New York Law Journal.

ALBANY-Gov. David Paterson on Wednesday offered legislation that he said would resolve uncertainty over purported rent overcharges in some 40,000 apartments as the result of a Court of Appeals ruling in October of last year. The proposal is part of a larger package that would extend rent regulation for eight years, increase the monthly legal rent threshold for luxury decontrol to $3,000 from $2,000, and require owners to notify tenants and the New York State Division of Housing and Community Renewal when an apartment has been deregulated.