New York A04991 prohibits landlords from using algorithmic devices to set residential rent amounts, declaring such use an unfair trade practice.

New York A04991 amends the real property law to prohibit landlords from using algorithmic devices to determine residential rent amounts. The bill defines an "algorithmic device" as a tool using algorithms to calculate data for rent advice, excluding certain trade association reports and affordable housing program guidelines. A violation is considered a deceptive trade practice under the general business law, subjecting violators to penalties. The act takes effect 90 days after becoming law, applying to rental agreements executed thereafter.

New York A04991 prohibits landlords from using algorithmic devices to set residential rent amounts, declaring such use an unfair trade practice.

New York A04991 amends the real property law to prohibit landlords from using algorithmic devices to determine residential rent amounts. The bill defines an "algorithmic device" as a tool using algorithms to calculate data for rent advice, excluding certain trade association reports and affordable housing program guidelines. A violation is considered a deceptive trade practice under the general business law, subjecting violators to penalties. The act takes effect 90 days after becoming law, applying to rental agreements executed thereafter.