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A proposed bill wouldn’t block the exit—but it would require a formal approval process.
Owners’ ability to deregulate apartments and be exempt from rent stabilization requirements were severely eroded with the passage of the Housing Stability and Tenant Protection Act (HSTPA) in June 2019. The HSTPA implemented a series of historic reforms to rent laws that included repealing high-rent vacancy and high-rent/high-income deregulation.
