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politics4h ago
New York lawmakers seek rent control to protect small businesses
- New York lawmakers push a bill to extend rent control to commercial properties across the state.
- The proposal would create a commercial rent guidelines board to set rent increases and standardize leases.
- Tenants would gain the right to demand written lease agreements under the measure.
- Supporters cite local examples in Brooklyn of rising rents and storefront vacancies.
- Advocates say stabilization could curb boarded-up stores and empty windows.
- Landlords and real estate groups oppose the measure, citing business realities.
- Some attorneys warn commercial rent control could increase vacancy rates.
- Berkeley and Seattle examples show mixed results for commercial rent laws.
- If approved, the bill would appoint nine members to the new commercial rent guidelines board.
- The measure aligns with a broader push to support small businesses amid rising costs.
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