We've experienced this story many times. Misguided and ill-conceived housing legislation is adopted in our nation's coastal cities and eventually makes its way to Chicago.
San Francisco, Los Angeles, Washington, D.C., Seattle, and Oakland, Calilfornia, have given birth to much of this legislation, but none of these cities holds a candle to New York City--the birthplace of rent control and home to some of the most oppressive housing regulations in the nation.
Meet Jay Martin, the Executive Director of NBOA's counterpart in New York City, the Community Housing Improvement Program (CHIP).
CHIP is a trade association for owners of over 400,000 rent-stabilized rental properties across New York City’s five boroughs. Founded in 1966, CHIP is a leader on a range of housing issues, including rent regulations, lead paint, property taxes, and water rates. CHIP advocates for the rights of property owners, empowering them to make major investments in their properties and achieve financial sustainability while maintaining affordable properties.
We will lead off our discussion with a focus on New York City's rent stabilization programs (the "rent control" policies that New York adopted in the 1940s, which allowed for no rent increases whatsoever, have largely been replaced by rent stabilization policies, which allow rent increases by a small, set percentage each year).
We will learn about the enormous challenges New York housing providers face with rent stabilization and how government-appointed rent stabilization boards set rent increases each year, and the arduous process housing providers must undertake to receive permission to increase rents above the cap. With rent stabilization in place, do apartments ever actually change hands? What market distortions does rent stabilization create?
We will also cover other issues facing New York City housing providers, including an effort in the state legislature to enact a law that provides tenants with a permanent entitlement to their apartment. New York's “Good Cause Eviction" proposal is very similar to the "Just Cause Eviction" ordinance introduced last year in Chicago's City Council.
Also, what issues do New York housing providers face with property tax assessments? How long does it take in New York to receive an order of eviction?
It’s important to learn about the challenges faced by our New York City colleagues so we can prepare for the fights ahead in the Chicago City Council, the Cook County Board and the Illinois General Assembly.