Property Management
Under New York's Emergency Tenant Protection Act (ETPA) of 1974, municipalities outside New York City may opt in to rent stabilization if:
AThe Governor declares a housing emergency
BThe municipality enacts a local law declaring a housing emergency (vacancy rate of 5% or less) and opts into rent stabilization✓ Correct
CAt least 50% of tenants petition for stabilization
DThe municipality is located in a county designated as a high-cost area
Explanation
The ETPA allows municipalities in Nassau, Westchester, and Rockland counties (among others) outside NYC to adopt rent stabilization by declaring a housing emergency (based on a vacancy rate of 5% or less) and passing a local law opting into the ETPA. This extends rent stabilization protections similar to NYC's system to covered units in those municipalities.
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