{"id":38263,"date":"2020-07-01T13:48:00","date_gmt":"2020-07-01T10:48:00","guid":{"rendered":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/?p=38263"},"modified":"2025-05-22T13:09:35","modified_gmt":"2025-05-22T10:09:35","slug":"rent-freeze-regulations-in-new-york-city","status":"publish","type":"post","link":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/2020\/07\/01\/rent-freeze-regulations-in-new-york-city\/","title":{"rendered":"Rent Freeze &#038; Regulations in New York City"},"content":{"rendered":"\n<p><strong><em>NYC-based&nbsp;boutique law firm&nbsp;<a rel=\"noreferrer noopener\" href=\"https:\/\/pnlawyers.com\/\" target=\"_blank\">Pardalis &amp; Nohavicka<\/a>&nbsp;brings the latest legal updates from the world of real estate to PropertyShark.&nbsp;Pardalis &amp; Nohavicka&nbsp;handles an eclectic array of matters, representing individuals and business owners in civil litigation, criminal cases and business transactions,&nbsp;currently litigating and representing clients throughout the United States and around the world.<\/em><\/strong><\/p>\n\n\n\n<p>The real estate industry has been severely affected by the COVID-19 pandemic. And, as New York City slowly begins reopening in phases, landlords and tenants alike are entering an uncertain time.<\/p>\n\n\n\n<p>With eviction moratoriums still in place until August and late-payment fees banned, officials have been working to ease renters\u2019 worries, while landlords continue to struggle with limited income. Meanwhile, the changes continue. A rent freeze has been approved for NYC rent-stabilized apartments.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_are_the_guidelines\"><\/span>What are the guidelines?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The Rent Guidelines Board authorized:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>A rent freeze on one-year leases<\/li><li>A partial freeze for two-year leases<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_can_landlords_do\"><\/span>What can landlords do?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Unfortunately, landlords\u2019 options are fairly limited:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>They cannot increase rent at all for one-year leases.<\/li><li>They cannot increase rent in the first year for two-year leases. However, by the second year, they may increase rent by 1%.<\/li><\/ul>\n\n\n\n<p>These guidelines go into effect on October 1, 2020, and last through September 30, 2021. The goal is to assist nearly two million renters in rent-stabilized apartments across New York City.<\/p>\n\n\n\n<p>\u201cRenters have never faced hardship like this,\u201d said New York City Mayor, Bill De Blasio. \u201cThey desperately need relief, and that\u2019s why we fought for this rent freeze.\u201d<\/p>\n\n\n\n<p>Considering that property taxes are due July 1, this decision to freeze rent is sure to increase tension with landlords as they face yet another major setback amidst the pandemic.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"About\"><\/span><strong>About<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"alignleft\"><a href=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2019\/03\/PropertyShark-Taso.png\"><img decoding=\"async\" src=\"https:\/\/cdn.shortpixel.ai\/client\/q_lossy,ret_img,w_150\/https:\/\/cdn.shortpixel.ai\/client\/q_lossy,ret_img,w_150\/https:\/\/cdn.shortpixel.ai\/client\/q_lossy,ret_img,w_150\/https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2019\/03\/PropertyShark-Taso-150x150.png\" alt=\"\" class=\"wp-image-34836\"\/><\/a><\/figure><\/div>\n\n\n\n<p><strong>Taso Pardalis<\/strong>&nbsp;is a founding partner of the Law Offices of Pardalis and Nohavicka, a leading full- service NYC law firm with offices in Manhattan, Queens and WeWork. Taso may be a well-known attorney with many cases making headlines in major media outlets, but at heart, he is a true entrepreneur that believes in supporting the small business community. His areas of concentration are: Intellectual Property, Trademarks, Corporate, Business Law and Real Estate Law.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>With eviction moratoriums still in place and late-payment fees banned, officials have been working to ease renters\u2019 worries, while landlords continue to struggle with limited income.<\/p>\n","protected":false},"author":49,"featured_media":38276,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[9499,796],"tags":[11172,11097],"class_list":["post-38263","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legal","category-how-to","tag-old-how-to","tag-real-estate-law"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Rent Freeze &amp; Regulations in New York City - PropertyShark Real Estate Blog<\/title>\n<meta name=\"description\" content=\"With eviction moratoriums still in place and late-payment fees banned, officials have been working to ease renters\u2019 worries, while landlords continue to struggle with limited income.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/2020\/07\/01\/rent-freeze-regulations-in-new-york-city\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rent Freeze &amp; Regulations in New York City\" \/>\n<meta property=\"og:description\" content=\"With eviction moratoriums still in place and late-payment fees banned, officials have been working to ease renters\u2019 worries, while landlords continue to struggle with limited income.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/2020\/07\/01\/rent-freeze-regulations-in-new-york-city\/\" \/>\n<meta property=\"og:site_name\" content=\"PropertyShark Real Estate Blog\" \/>\n<meta property=\"article:published_time\" content=\"2020-07-01T10:48:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-05-22T10:09:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/wp-content\/uploads\/sites\/98\/2020\/07\/Real-Estate-Law-june-4-1920x1280-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1280\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Eliza Theiss\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Eliza Theiss\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Rent Freeze & Regulations in New York City - 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Her work has been cited by CBS News, Curbed, The Los Angeles Times, and Forbes among others. With an academic background in journalism, Eliza has been covering real estate since 2012. Before joining PropertyShark, Eliza was an associate editor at Multi-Housing News and Commercial Property Executive. She has also contributed extensively to CommercialEdge. 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