NY A00308

Requires court approval before terminating or failing to renew leases in rental buildings (20+ units) where substantially all tenants are over 65 years old and/or have disabilities, except for cause such as non-payment of rent.

Court must consider factors including lessor's profit/loss status, need for major repairs, prior representations to tenants, alternative housing offered, number of affected tenants, and length of tenancy when deciding whether to grant approval.

Limits annual rent increases to one percent above the consumer price index change since tenancy start or most recent renewal, and restricts increases to once per year maximum.

Requires lessors to notify prospective and current tenants in writing (18-point type) of protections under this section and notify local government agencies when filing termination actions affecting multiple leases.

Subjects violating lessors to liability for tenants' reasonable attorney's fees, relocation expenses, and return of initiation fees and security deposits.