Governor Kathy Hochul signed a legislative package to bolster homeownership and strengthen protections for renters. This furthers her five-year affordable housing plan to create or preserve 100,000 homes, the largest such plan in New York’s history.
The homeowner package will make homeownership more attainable through tax incentives and strengthens laws and policies to combat home appraisal discrimination. The renters package will strengthen protections for tenants statewide including extending protections on security deposits, limits on excessive fees for bounced checks, and banning collusion using algorithm-enabled rent price fixing used to inflate rents.
