A city Independent Budget Office report examines vacancy data from the state’s housing agency amid concerns of 'warehousing.'
Renters and their advocates have accused property owners of deliberately holding regulated apartments off the market to force changes to state laws that cap maximum rents and prohibit deregulation — a move that would allow them more latitude to increase rents.
The IBO report found that about 5% of rent-stabilized apartments were registered as empty last year with the state’s Division of Homes and Community Renewal, which administers the rent laws and oversees the state’s regulated housing stock. IBO Director Louisa Chafee said the agency undertook the study “given broad concerns about warehoused rent stabilized apartments.”
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