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Senate And Assembly Expected To Approve New Rent Regulations

By Newsradio 88 Staff

The State Senate and Assembly are expected to vote later today on the newly revised rent regulations.

Lawmakers spent the day finalizing the agreement which was worked out at the eleventh hour on Sunday night. For the most part, the 50-year-old rent system will continue pretty much as is, though the deal allows landlords to increase rents by at least 20 percent when apartments become vacant.

Though the state's rent laws expired at midnight Sunday, the deal would be applied retroactively. Therefore, according to Governor Pataki, there should be no disruptions for tenants if lawmakers approved the legislation promptly.