New York State implements new tenant protection laws

New York State has implemented various regulations designed to protect renters, particularly in regulated apartment buildings with more than 35 units. For rent increases exceeding 5%, landlords must provide written notice. Tenants who have lived in an apartment for at least one year are entitled to a 60 to 90-day notice period before a rent increase takes effect.

Additional protections include limits on fees and late payments. A rent payment can only be deemed late if received more than five days after the due date. Late fees are capped at $50 or 5% of the monthly rent, whichever is less. Regarding background and credit checks, landlords may charge a maximum of $20, provided they supply the tenant with a copy of the check and the service provider's invoice. Tenants also have the option to provide their own background and credit checks to avoid these fees.