Prohibits real property that has converted from a limited-profit housing company to a housing development fund company from being eligible for a shelter rent tax abatement.
This bill caps security deposits for residential leases of one year or longer at one month's rent. Landlords cannot charge more than this amount, and additional move-in fees (like pet fees or background checks) must be included within that limit - pet fees max at 25% of the total deposit, other fees at 10%. Most fees must be refundable to tenants, with pet-related fees only retained for cleaning or pet-caused damage after move-out. Violations carry civil fines up to 15% of the annual rent. The bill directly affects landlords and tenants in long-term residential leases.
Requires landlords to ensure rental properties are equipped with utility services prior to renting such properties; requires landlords to keep utility services connected in between tenants.
This bill changes how property taxes are calculated for seniors and people with disabilities living in rent-controlled or rent-regulated housing. It allows their pension benefits (including Social Security, retirement payments, and disability benefits) to be counted as income for tax purposes, potentially lowering their property tax burden. The key mechanism revises income calculation rules to exclude gifts, inheritances, and certain pension increases tied to inflation, while including eligible benefits. To qualify, households must have an existing rent increase exemption order (granted before July 1, 2024) and the new calculation must show lower taxes than the previous method.
Provides that a landlord shall not request, obtain, or consider a consumer credit report or credit history for a prospective tenant who provides a written self-attestation that they are a victim of domestic violence, and shall not deny an application for rental housing on the basis of credit history when the applicant is a victim of domestic violence.
Relates to authorizing a reduction of taxes pursuant to shelter rent; provides that upon consent of the local legislative body in a city with a population of one million or more such taxes may be reduced to five per centum or less, including a full reduction of the annual shelter rent or carrying charges of a project.
Requires rent concessions to be reported to the division of housing and community renewal; requires the inclusion of a statement of net effective rent for units with concessions; requires certain annual statements filed to include reporting of rent concessions.
This bill amends the private housing finance law to modify local tax exemptions for certain limited-profit housing projects. For these projects located in cities with a population of one million or more, it sets the maximum amount of local and municipal taxes to be paid at zero percent of the annual shelter rent or carrying charges. This effectively removes the previous minimum tax requirement tied to a percentage of shelter rent or 1973 tax levels for these projects. For projects in other municipalities, the local legislative body retains the ability to consent to similar tax reductions, with such consent requiring renewal every ten years.
Establishes the small rental housing development initiative to provide funding to eligible applicants to construct small rental housing developments in eligible areas.
Tolls the four year statute of limitations look back period on rent overcharges where the owner of a housing accommodation acts in a wrongful or fraudulent manner.
