Controversial measure impacts stabilized unit transitions and capital improvements
SANTA BARBARA, Calif., August 1, 2019 – New York state’s Housing Stability and Tenant Protection Act of 2019 limits rent increases when stabilized units are vacated and caps rent increases made in conjunction with capital improvements to properties. Affordable housing advocates applaud the legislation as a boon to renters, especially those in New York City’s five boroughs, while others worry it will lead to a deterioration of housing stock and an exodus of development and investment.
Yardi Matrix offers the industry’s most comprehensive market intelligence tool for investment professionals, equity investors, lenders and property managers who underwrite and manage investments in commercial real estate. Yardi Matrix covers multifamily, industrial, office and self storage property types. Email [email protected], call 480-663-1149 or visit yardimatrix.com to learn more.
Yardi® develops and supports industry-leading investment and property management software for all types and sizes of real estate companies. Established in 1984, Yardi is based in Santa Barbara, Calif., and serves clients worldwide. For more information on how Yardi is Energized for Tomorrow, visit yardi.com.