The New York City Council has passed the "Rent Transparency Act," which requires landlords of buildings with rent-stabilized units to post bilingual signs in common areas informing tenants of their rights. With approximately 1 million rent-stabilized apartments in the city, the act aims to help tenants, many of whom are unaware of their legal rents and potential illegal overcharges by landlords. Councilmember Sandy Nurse, the bill’s sponsor, emphasized the need for transparency to combat illegal rent practices.
"Many tenants living in rent stabilized units don't know how to determine their legal rent, and in turn, bad landlords have gotten away with illegal rent overcharges and have illegally deregulated units and whole buildings."
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