HB 6588 - Rent Stabilization Summary

• Prohibits landlords from increasing rent during the first year of any tenancy (except week-to-week rentals) effective October 1, 2023.

• Requires landlords to provide written notice of rent increases at least 90 days in advance and limits annual increases to 4% plus the twelve-month average consumer price index for the northeast region.

• Commissioner of Housing must calculate and publish the maximum allowable annual rent increase percentage by November 1 each year on the Department of Housing website.

• Prohibits rent increases during any declared public health emergency and for one year following the emergency's expiration.

• Landlords who violate rent increase restrictions are liable to tenants for three months' rent plus actual damages; exemptions apply to dwellings with certificates of occupancy issued less than fifteen years prior and units receiving federal, state, or local rent subsidies.