Increases penalties for owners of rent-regulated property who overcharge tenants.

New York Assembly Bill A00654 increases penalties for owners of rent-regulated properties who overcharge tenants. The bill amends the Emergency Tenant Protection Act of 1974 and the Administrative Code of the City of New York. It establishes that any owner found to have collected an overcharge above the authorized rent will be liable for a penalty equal to five times the amount of the overcharge. If the owner can prove the overcharge was not willful, the penalty is set at the amount of the overcharge plus interest.

Increases penalties for owners of rent-regulated property who overcharge tenants.

New York Assembly Bill A00654 increases penalties for owners of rent-regulated properties who overcharge tenants. The bill amends the Emergency Tenant Protection Act of 1974 and the Administrative Code of the City of New York. It establishes that any owner found to have collected an overcharge above the authorized rent will be liable for a penalty equal to five times the amount of the overcharge. If the owner can prove the overcharge was not willful, the penalty is set at the amount of the overcharge plus interest.