The state legislature has only weeks to decide whether to renew two key real-estate regulations. At the same time, Albany is in turmoil over corruption charges involving at least one of the city’s top developers. 

The measures to be considered involve rent protections for a million-plus apartments and a controversial tax abatement program meant to encourage construction of affordable housing. Mayor Bill de Blasio has released a list of proposals to strengthen rent-regulation for stabilized apartments in favor of tenants as part of his effort to stem the tide of rental apartment deregulation.

The mayor wants to eliminate a rule called vacancy decontrol that allows apartments where the rent rises above $2,500 per month to be deregulated. He also wants to end to the vacancy allowance, that lets landlords increase rent by about 18 to 20 percent when a tenant moves out. The proposal also calls for making major capital improvement rent increases temporary. Currently, landlords who upgrade apartments can charge more in rent indefinitely.

"Unless we change the status quo, tens of thousands of hardworking families will be pushed out of their homes," said de Blasio. "This has to be a city for everyone. It cannot just be a city of luxury apartments out of everyday New Yorkers’ reach."

But the Rent Stabilization Association, a property ownership trade association, said the Mayor's proposed changes would be disastrous for landlords, and would ultimately degrade the city's housing stock.

"It would take us back to the dark days of the 1960s and 1970s, when owners couldn't afford to invest in their properties and living conditions deteriorated for tenants and the city ended up taking over hundred of thousands of apartments," said Jack Freund, vice resident of the RSA.

But any legislative actions to revise rent regulations as well as the controversial 421-a tax abatement program — both of which expire in June — are now less clear with the leaders of the state Assembly and Senate facing corruption charges.