A 'Good Cause Eviction Bill' is on the table in Albany. It would set a limit on rental increases by tying them to inflation.
Natalie DuddridgeNEW YORK -- The pandemic deals that lured so many short-term renters back into New York City are coming to an end.facing unheard of spikesHusband and wife, David Salsbery Fry and Claudia Friedlander, are musicians. He's an opera singer, and she's a voice coach. They've lived on West End Avenue near Lincoln Center for 15 years."They planned on raising our rent 74%," Salsbery Fry said.
Some state lawmakers are trying to change that. A "Good Cause Eviction Bill" is on the table in Albany. It would set a limit on rental increases by tying them to inflation.Lieb said there are several reasons why landlords are boosting rents. "Number one is the loss of revenue of the pandemic and increased demand, which allows them to therefore recoup that lost revenue," he said."This Good Cause Eviction Bill... Just talking about it is making landlords raise rent," he said. "Why? Because they're saying, 'Oh shoot, if this passes, I'm going to be capped at 3%. Better act now so I don't lose my shirt.
The couple Duddridge spoke with worries without the bill, only millionaires will be left in Manhattan."As long as it is under consideration but hasn't passed, landlords will feel like they're under pressure to raise rents as much as they can," Salsbery Fry said. Ultimately, they were forced out and had to change communities. But they consider themselves lucky. They borrowed money from family to secure another rent-stabilized building, hoping to avoid another surprise rent spike for another decade.
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