For years, landlords have rejected the idea of a commercial rent regulation board, while some small businesses have been lining up in support.
Now, Councilmember Stephen Levin, who introduced a bill into the City Council to create such a board two years ago, is trying to push it through before the end of his term in two months. Brooklyn Paper’s sister publication PoliticsNY spoke with Levin to get a better sense of the bill — and what it could mean for everyone on a commercial lease.
After a hearing on Friday, Sept. 17, Levin told PoliticsNY that he is still hopeful.
“This is nothing other than a level playing field when their lease expires,” he said.
The bill creates a seven-member appointed commercial rent guidelines board, similar to the residential rent guidelines board, and it would annually establish guidelines for rent adjustments in commercial spaces.
