Commercial Rent Stabilization: One Local Response to Skyrocketing Rents

Publication Title

New York University Journal of Legislation & Public Policy

Document Type

Article

Publication Date

2023

Abstract

Rent hikes have displaced Black- and immigrant-led small businesses and nonprofits for years at alarming rates, and COVID-19 accelerated the trend. Recognizing the ripple effects on owners, community leaders, employees, and underserved communities, several organizers, activists, lawyers, and local legislators around the country are revisiting commercial rent control.

This Article uses the commercial rent stabilization bill introduced in New York City in 2019 as a case study to argue that commercial rent control can advance worthwhile interim goals in New York City and elsewhere. First, commercial rent control would help level the exploitative landlord- tenant playing field. Further, it would promote predictability and stability, which would allow Black- and immigrant-led businesses to thrive and serve their diverse communities’ needs. Finally, this Article contributes to the commercial rent control scholarship by discussing its policy advantages for small, Black- and immigrant-led commercial tenants, as well as responding to the common mischaracterization of state and federal law that views them as obstacles to commercial rent control.

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Recommended Citation

Julian M. Hill, Commercial Rent Stabilization: One Local Response to Skyrocketing Rents, 25 N.Y.U. J. Legis. & Pub. Pol’y 603 (2023).

DOI

10.2139/ssrn.4176459

Volume

25

Issue

3

First Page

603

Last Page

664

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