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New rent-regulation rules approved

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Somewhat muffled by the legalization of same-sex marriage bill on Friday, the New York State legislature also, as expected, passed new rules on rent-stabilization.  The new rules raise the threshold for removing apartments from rent stabilization to $2,500 a month, up from $2,000.  And tenants who earn up to $200,000 a year can rent a stabilized apartment, up from $175,000.  What does this really mean? It's a mixed bag for renters--read last week's post for the lowdown.

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