Commercial Rent Stabilization

Chhaya CDC is a member of the United for Small Business NYC (USBNYC) Coalition. Chhaya and USBNYC support NYC Intro 1796, sponsored by Councilmember Steve Levin (Brooklyn District 33), which seeks to create a system of commercial rent stabilization for NYC small businesses.  

It protects commercial tenants from displacement due to exorbitant rent hikes and unregulated fees and provides stability for small businesses and the people who depend on them.

The rising cost of rent impacts commercial tenants across New York City. Those  hardest hit tend to be communities of color and communities facing rapid gentrification.

We need to prevent speculative landlords from profiting off our neighborhoods. Nearly half of NYC’s small businesses are run by immigrants, and roughly 26% of New Yorkers work at a small business.

In 2019, Councilmember Steve Levin (District 33, Brooklyn) sponsored Intro 1796, which would create a board to set annual rent increase rates for small office, retail, and manufacturing spaces, as well as creating penalties for rent overcharges. USBNYC supports a strong commercial rent stabilization bill that includes mechanisms for enforcement and fair criteria for the board’s decisions.

Are you a small business owner? Do you belong to a group that wants to prevent displacement and speculation?

• Follow us on Twitter and use our hashtags: #NoSmallBizNoNYC #FairRentNYC
• Talk to your neighbors about commercial rent stabilization!

For more information about commercial rent stabilization, please contact Shrima Pandey at shrima@chhayacdc.org