Many parts of the country are seeing double digit jumps in rental prices. In New York City, rents have increased on average by 30% in the past year.
The Manhattan skyline is seen at sunrise from the 86th floor observatory of the Empire State Building on April 3, 2021, in New York City.
“People contact us because they assume that this is illegal, but the truth is, it’s not,” Salazar says. “Right now in New York state, if you are an unregulated tenant, there is virtually no protection under the law … from the landlord raising your rent by any amount or evicting you without having to show any cause whatsoever.”
Evictions are also climbing again. Salazar says she has constituents who are fearful that they will not only be priced out of their rentals but left with little options on where to go next. “You want as many people to get a good deal as possible and not just sellers to make tons of money and not just buyers to get something way under the market,” Richards says. “You want it to feel kind of balanced.”
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