Landmark Deal Reached on Rent Protections for Tenants in N.Y.

By Luis Ferré-Sadurní, Jesse McKinley and Vivian WangNewly empowered Democratic leaders in Albany announced a landmark agreement on Tuesday to strengthen New York’s rent laws and tenant protections, seeking to address concern about housing costs that is helping drive the debate over inequality across the nation.The changes would abolish a rule that allows building owners to deregulate apartments, close a series of loopholes that allow them to raise rents and allow certain tenant protections to expand statewide, according to two people with knowledge of the negotiations.The deal was a significant blow to the real estate industry, which had long been one of the most powerful lobbies in Albany but had suffered a loss of influence after its Republican allies surrendered control of the State Senate in the November elections.“We have reached an agreement,” the State Senate majority leader, Andrea Stewart-Cousins, announced.