NPR – New York landlords are attacking rent regulations in a new federal lawsuit, claiming that capping what they can charge tenants in rent is equivalent to an illegal taking of property.
Last month, housing advocates in New York celebrated sweeping new laws that established rent control permanently and extended tenant protections beyond just New York City, allowing cities throughout New York to opt into rent stabilization programs, which limit how much rent can be increased.
In New York City, those rent caps affect about 1 million apartments, and landlord groups say the regulations not only deprive them of income, but the rules also violate their constitutional rights.
The Community Housing Improvement Program, a trade group that represents 4,000 building owners, joined other landlord plaintiffs in the lawsuit arguing that rent stabilization laws “effect a physical taking of property in violation of the Constitution’s Takings Clause,” according to the suit, citing a clause of the Fifth Amendment.
The suit, filed in U.S. District Court in Brooklyn this week, is not asking for monetary damages, but instead seeks to have New York’s new rent stabilization laws thrown out.