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Rental Rules Under Fire | Real Estate News
Mayor Zohran Mamdani’s bold new housing plan could shake up how landlords screen renters—suggesting they only need to verify either income or credit, not both, to ease entry into the rental market. Inspired by his Rental Ripoff Report, the proposal aims to help more people afford housing by ditching the rigid “40 times rent” income rule. Critics warn it might push tenants into rent-burdened situations, where rent eats up over 30% of income, and raise concerns that landlords could face financial risk—or even rent freezes—when taking on riskier tenants. The City Council will weigh in on whether…
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