Rent Reforms Passed in New York State

[Mark Ostertag]

Hello Biggerpockets!

The legislation proposed in New York passed on Friday 6/14. The two below articles have related information and I have some related questions. Please add other related

https://www.jacobinmag.com/2019/06/new-york-housing-tenants-universal-rent-control

https://ny.curbed.com/2019/6/14/18679507/rent-regulation-new-york-state-reform-legislation-passed

I'm in Rochester, NY and looking to invest locally where I can oversee my properties with a reasonable drive.

Does this primarily impact only unethical landlords? As in, if you're following the generally touted advice that I hear (take good care of your property and tenants, screen tenants thoroughly, evict for non-payment quickly, run it like a business), will this impact you?

Should I now wait to invest to see how this legislation impacts others? (I'm thinking not, but this certainly makes me nervous.)

Based on the legislation, can we still evict for non-payment, abuse of the property, or illegal activity in a reasonable period of time? (I saw a note about a judging staying an eviction for up to a year for certain reasons - highly alarming.)

What parts of this are in effect in Rochester? (I've seen posts indicating that this impacts NYC now and only other parts of the state if they elect to adopt it.)

I realize we may not have these answers yet, but I'd like to get the conversation started.