Mayor Eric Adams Signs Law Extending Rent Stabilization

MAYOR ADAMS SIGNS LEGISLATION EXTENDING HOUSING AND VACANCY SURVEY DEADLINE

New York City Mayor Eric Adams today signed Intro 70 into law, extending the deadline for the city’s Housing and Vacancy Survey (HVS). Sponsored by New York City Councilmember and Housing and Buildings Committee Chair Pierina Sanchez, Intro 70 extends the deadline for the HVS from April 1, 2022 to July 1, 2022.

“I am pleased that my first bill signing and hearing is one that gets stuff done for New York City renters and working people,” said Mayor Adams. “Too many New Yorkers are struggling to keep a roof over their heads and put food on the table, and this bill provides the time needed for the city to make an informed decision on the extension of rent stabilization.”

“The Housing and Vacancy Study is a critical tool in tracking our housing stock and understanding the realities on the ground for New Yorkers trying to find an affordable home for their families,” said New York City Chief Housing Officer Jessica Katz. “I am grateful to Councilmember Sanchez for understanding how important it is for the city to have adequate time to accurately assess the state of our housing market. We cannot rush a review against a short deadline when vital rent stabilized units are on the line. This bill will let us do our job right.”

“For more than 50 years, the New York City Housing and Vacancy Survey has been the most reliable source of information on the city’s vacancy rate, the supply and condition of housing, and the continued need for rent regulation. In light of the pandemic’s effect on New York City tenants, collecting thorough citywide data is more important than ever,” said New York City Department of Housing Preservation and Development Commissioner Adolfo Carrión Jr. “We’re glad to have the Council’s support in extending the deadline to allow the New York City Housing Vacancy Survey to more accurately assess the state of housing in this city.”

“The pandemic is still impacting New York City on multiple fronts, including exacerbating the housing affordability crisis that predated the arrival of COVID,” said New York City Council Speaker Adrienne Adams. “Extending the period of determination for our city’s housing emergency will allow tenants to remain protected under rent stabilization laws for additional time. I thank Councilmember Sanchez for her leadership on this important legislation.”

“Stabilized housing is essential to maintaining affordability for our New Yorkers,” said New York City Councilmember Pierina Sanchez. “This bill is critical to ensuring rent stabilization can continue in New York City, upon proper findings in the city’s Housing Vacancy Survey. I am proud to have sponsored this bill as my first act as chair of the Housing and Buildings Committee, and I look forward to continuing all efforts to maintain rent stabilization for the two million New York households relying on city leaders to maintain our rent stabilization laws in this city.”

The HVS is completed every three years in compliance with New York state and New York City’s rent regulation laws, however, the survey scheduled for 2020 was postponed initially due to the 2021 U.S. Census and then further due to the COVID-19 pandemic. Per New York state law, the city’s rent stabilization law is triggered by a “housing emergency,” which is in effect when the city’s rental vacancy rate — as measured by the HVS — is below 5 percent.

City Hall – Blue Room

New York, NY 10007

March 30, 2022