The U.S. Supreme Court has denied a petition by landlord groups challenging New York’s rent stabilization law, preserving the program for the time being and allowing the city’s approximately 2 million stabilized tenants a sigh of relief.
Two groups representing rent-stabilized landlords, the Community Housing Improvement Program (CHIP) and the Rent Stabilization Association (RSA), had challenged the city’s decades-old rent-stabilization law — which prevents landlords from raising rents beyond annual percentages set by a city board — deeming it an unconstitutional “taking” of private property. The case was tossed repeatedly from lower courts, but the landlords hoped to get a more sympathetic audience from the Supreme Court, which has tilted far more conservative in recent years.
