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Prohibits a person or entity from knowingly or with reckless disregard facilitate an agreement between or among two or more residential rental property owners or managers to not compete with respect to residential rental dwelling units, including by operating or licensing a software, data analytics…
This bill prohibits agreements among residential rental property owners to not compete, particularly using algorithmic tools.
If you operate rental properties in New York, you must ensure your pricing strategies do not involve non-compete agreements by the effective date or face legal penalties.
What do these statuses mean? ▼
Affected Industries
Topics How we classify →
What This Means
New York's S07882 targets non-competitive agreements among residential rental property owners, especially those utilizing algorithmic tools. This legislation aims to prevent collusion in rental market
Key Provisions
- Prohibits agreements to not compete among rental property owners.
- Outlaws using software to facilitate non-competitive agreements.
Latest Legislative Action
SIGNED CHAP.437
Bill Sponsors (showing 5 of 14)
| Name | Role |
|---|---|
| Brad Hoylman-Sigal | Primary |
| COMRIE | Primary |
| GOUNARDES | Primary |
| Monica Martinez D | Primary |
| PERALTA | Primary |
Roll Call Votes (showing 3 of 6)
Compliance Checklist
Who: Residential rental property owners and managers.
Deadline: Effective 60 days after the law is enacted.
Penalty: Legal penalties for non-compliance.
Who: Residential rental property owners and managers.
Deadline: Effective 60 days after the law is enacted.
Penalty: Legal penalties for non-compliance.
Related & Companion Bills
Full Legal Analysis
Official Source
Related Topics
Affected Industries
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