New York A01249 amends lease renewal rules under the stabilization code for rent-stabilized housing.

New York A01249 amends the administrative code of the city of New York to modify lease renewal rules under the stabilization code. It defines "demolish" as the complete razing of a building to construct a new one with the same or more rental units. The bill requires owners to offer tenants relocation options, including to a rent-stabilized unit, interim housing, or a stipend. The changes apply immediately to tenants in possession and pending proceedings.

New York A01249 amends lease renewal rules under the stabilization code for rent-stabilized housing.

New York A01249 amends the administrative code of the city of New York to modify lease renewal rules under the stabilization code. It defines "demolish" as the complete razing of a building to construct a new one with the same or more rental units. The bill requires owners to offer tenants relocation options, including to a rent-stabilized unit, interim housing, or a stipend. The changes apply immediately to tenants in possession and pending proceedings.