Landlords worry Senate will eliminate decontrol

Landlords in the city are afraid the now Democratic-controlled Senate will eliminate the vacancy decontrol law. Housing advocates expect to make a push to get rid of the law -- which allows landlords to charge market rates for rent-stabilized apartments once the tenants move out and the rent reaches $2,000 per month -- in the next legislative session. Landlords believe eliminating decontrol measures would harm real estate investment in the city, and hurt developers who were expecting to eventually convert apartments into market rate.