NEW YORK (PIX11) \u2013 Two years after the Good Cause Eviction law took effect in New York City, new data suggests the policy is making a measurable difference for many renters, even as landlords argue it does not solve the city\u2019s larger housing crisis.<\/p>\n
The law, approved by New York State in April 2024, was designed to protect market-rate tenants from excessive rent increases and from being denied lease renewals without cause.<\/p>\n
Discover more local reporting on our homepage <\/a><\/p>\n Supporters say the law has helped hundreds of thousands of tenants remain in their homes and push back against abusive landlord practices. Critics, however, say the measure adds more regulations to an already highly regulated housing market while doing little to increase the city\u2019s limited housing supply.<\/p>\n New data shows rent hikes declining.<\/p>\n According to new research from housing platform OpenIgloo, rent increases above 20% have dropped by 75% citywide since the law took effect. The group also found that before Good Cause passed, about 26% of market-rate lease renewals in New York City included rent hikes above 10%. Since the law went into effect, that number has fallen to 9%.<\/p>\n \u201cIt was a law that passed two years ago in New York State that protects market-rate renters in New York City from crazy rent increases and not being given a renewal from their landlord,\u201d said Allia Mohamed, founder of OpenIgloo.<\/p>\n How the law works<\/p>\n Under Good Cause Eviction protections, eligible tenants are generally entitled to a lease renewal if they comply with the terms of their lease, such as paying rent on time.<\/p>\n Rent increases are capped at 5% plus inflation, or 10%, whichever is lower. The law generally applies to buildings built before 2009 that are owned by landlords with more than 10 units. It does not apply to rent-stabilized apartments, co-ops, or condominiums.<\/p>\n