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Owners should prepare for another increase in water and sewer charges, although the proposed hike for Fiscal Year 2026 is smaller than in recent years. The Department of Environmental Protection (DEP) has put forward a 3.7 percent increase, which, if approved by the NYC Water Board, would go into effect on July 1, 2025.
New recommendations focus on ways to address the needs of tenants living in buildings with the most chronic and severe heat issues. These options include using the 7A program, relaunching the Neighborhood Pillars program, and passing Intro. 1063-2024 of the Housing Rescue and Resident Protection Act.
Hochul spots the loophole in state housing law that leaves rent-stabilized tenants without the same protections as other renters when it comes to the return of security deposits.