New York S08215 amends rent guidelines boards' composition and factors for rent adjustments, removing the price index of operating costs.

New York S08215 amends the composition of rent guidelines boards and the factors considered in establishing annual rent adjustments. The bill changes the makeup of these boards to include seven members: three public members, two tenant representatives, and two owner representatives. It also removes the price index of operating costs as a factor in determining rent increases. The rent guidelines boards must consider factors such as the economic condition of the residential real estate industry, operating maintenance costs, and overall supply of housing accommodations.

New York S08215 amends rent guidelines boards' composition and factors for rent adjustments, removing the price index of operating costs.

New York S08215 amends the composition of rent guidelines boards and the factors considered in establishing annual rent adjustments. The bill changes the makeup of these boards to include seven members: three public members, two tenant representatives, and two owner representatives. It also removes the price index of operating costs as a factor in determining rent increases. The rent guidelines boards must consider factors such as the economic condition of the residential real estate industry, operating maintenance costs, and overall supply of housing accommodations.