Business & Tech
NYC Rent Costs: With One Click, See If Law Says Your Landlord Is Ripping You Off
A ProPublica report shows landlords ripping off New York City — and tenants — for millions of dollars. See if you should be paying less.
On Tuesday, Patch news partner ProPublica published an investigative story by reporter Cezary Podkul that showed thousands of property owners in New York are bilking the city and tenants out of millions of dollars.
The report focused on a tax break known as 421-a, which grants landlords millions of dollars in tax savings in exchange for a promise to limit rent increases. As the city's single largest housing subsidy, the 421-a program costs taxpayers $1.4 billion a year.
Click here to search for your building to see if your landlord has been approved for the program and registered your building for rent stabilization, as required by law. If not, you may be paying more rent than you should.
Find out what's happening in New York Cityfor free with the latest updates from Patch.
The program has had a big, and expensive, problem: With no enforcement tools to speak of, thousands of landlords have taken the tax breaks — while failing to live up to their end of the bargain by continuing to jack up rents.
Mayor Bill de Blasio was a bit slow to address the severe enforcement lapse, according to the ProPublica report. The mayor, though, announced Tuesday that he was creating a large-scale enforcement program targeting 3,000 buildings.
Find out what's happening in New York Cityfor free with the latest updates from Patch.
ProPublica has a tool to help identify offenders. Are you paying more rent than the law allows?
File photo via Mayor's Office
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