Approved May 31, 2022

RESOLUTION OF THE GREATER UTICA CHAMBER OF COMMERCE OPPOSING THE GOOD CAUSE EVICTION LEGISLATION

WHEREAS,  the New York Legislature is currently considering Senate Bill S-3082 and Assembly Bill A-5573 which has been called the “Good Cause Eviction” bill and would establish universal rent control across the state;  and

WHEREAS,  this proposed legislation would essentially force landlords statewide to accept tenants for life, with a cap on yearly rent increases;  and

WHEREAS,  under this legislation, landlords could not raise rent beyond 3 percent, or 150 percent of the region’s Consumer Price Index, whichever is lower. Any attempt to do so would constitute a legally legitimate reason for a tenant cease paying rent and still avoid eviction ;  and

WHEREAS,  increases in rent are generally driven by excessive demand for units and too little housing inventory, not by a lack of regulation; and

WHEREAS,  rental costs that are kept artificially low tend to attract more renters to the market,  creating further demand, and can limit available units because renters are reluctant to give up rental units even if they no longer need the same amount of space;

WHEREAS,  landlords become limited in their ability to recoup rising costs of taxes and repairs, and may become unable to keep up with routine maintenance, thus diminishing the quality of housing stock

NOW THEREFORE BE IT RESOLVED that the Greater Utica Chamber of Commerce opposes the proposed state legislation known as the Good Cause Eviction bill because of its great potential for unintended consequences and damage to the housing market and landlords that often result from legislative attempts to override natural market forces.