Does the 2019 Housing Stability Act apply to co-op leases? And what about when a co-op owner subleases his unit with Board approval?
Although this bill was passed by both the New York State Assembly and Senate, as of yet, it has not yet been signed by the governor, having just been delivered on December 10:
“BILL NUMBER: S5105C
TITLE OF BILL:
An act to amend the general obligations law, the real property law, and
the real property actions and proceedings law, in relation to excluding
tenant-shareholders in cooperative housing corporations from certain
The Housing Stability and Tenant Protection Act of 2019 was a landmark
bill in protecting tenant rights. However, several provisions of the
bill were unclear regarding its application to shareholder-tenants who
òutilize their cooperative as their residence. This bill adds clarifying
language and exempts these homeowner shareholder-tenants from those
provisions that would have a negative impact to their homeownership.
This act shall take effect immediately and shall apply to actions and
proceedings commenced on or after such effective date."