T
wo bills backed by the New York Apartment Association aim to fill vacant rent-stabilized apartments. One bill, sponsored by Sen. Leroy Comrie, would create a pilot program allowing some owners of stabilized apartments registered as vacant in 2025 to collect the full voucher amount, even if it exceeds the regulated rent. This could incentivize owners to renovate long-vacant units and rent them out.

    The measure would apply to local, state, and federal rental assistance and expire in 2027. However, tenant groups are concerned that it could lead landlords to push existing tenants out to cash in on increased rents. The New York Apartment Association sees this as a "small step" towards getting empty apartments back online and reducing the shelter system.

    A second bill would allow owners to reset rents for regulated apartments that have been vacant after continuous occupancy for 10 or more years, provided they've renovated the apartment and reached an agreement with the new tenant. This measure has been pitched in different forms over the past few years and was reintroduced this week.

    The Rent Guidelines Board is set to release its Income and Expense Study, which will inform their decision on rent increases. Meanwhile, Governor Andrew Cuomo's handling of Covid vaccines at Citi Field has come under scrutiny, with a spokesperson dismissing reports as "silly revisionist history."