THE STABLE LEGAL FOUNDATION OF COMMERCIAL RENT STABILIZATION
Author: Guy Yedwab
Although some accept that excessive rents are just part of the cost of doing business in an urban area, others cry out “the rent is ‘too damn high.’” In the face of vacant storefronts and constant churn, small business advocates are increasingly turning to a common residential affordable housing tool: rent stabilization laws. The most developed proposal, New York City’s Commercial Rent Stabilization bill (“NYC Commercial Rent Stabilization”) gained the support of a majority of city councilmembers in late 2021 and remains active in the current session. This note will explore the legality of commercial rent stabilization based on the history of legal challenges to past residential and commercial rent regulations.