City Council wants to take control of stabilized rent prices in the Bronx and city
The City Council wants to take control of stabilized rent prices in the Bronx and city. Sky rocketing rents are now controlled by Albany and lawmakers are trying to change that. More than 200,000 Bronx and city apartments have turned market rate in the last several years. Under Albany?s Urdstat Law, once rent control or stabilized apartments reach $2,000 a month and are vacated by the tenant they are no longer regulated. Some council members and Bronx tenant advocates are calling for the repeal of the 30-year-old law that put the state in control of city rents. If the City Council takes control, it could pass laws to preserve rent increases and affordable housing. A bill has been introduced in Albany to repeal the Urdstat law. Several Bronx assembly members are in favor of the bill and the mayor has offered his support as well.