Rent Control Whack-a-Mole on Deck for 2024
Real estate attorney Alexander Lycoyannis was mentioned in a Law360 article about the ongoing debate regarding rent control. The article discusses the national push for rent control measures, including the Biden Administration's proposed renter's bill of rights and tenant-led campaigns at both state and federal levels. It also highlights local battles in places like New York, where lawmakers are considering "good cause" eviction measures, and the challenges of crafting effective rent control legislation. Mr. Lycoyannis expressed concerns about the potential negative impacts of "good cause" eviction rules on New York's real estate industry, emphasizing that rent control policies could deter new housing development and create imbalances in the market.
"When you look at how determined the proponents are to put some kind of control on the roughly half of New York City apartments that are not regulated, even if they compromise and say the limit is 10 percent, that number can change," he said.
READ: Rent Control Whack-a-Mole on Deck for 2024 (Subscription required)