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 service, or algorithmic device that performs a coordinating function on behalf of or between and among such residential rental property owners or managers.
Impact
The implications of Bill S07882 are significant for both landlords and tenants in New York State. By restricting the use of algorithmic devices or software that affects pricing and competition, the bill aims to prevent collusion among landlords, which could escalate rental prices beyond fair market value. This change is perceived as a measure to enhance tenant protection while ensuring transparency in rental agreements. The bill is part of a broader initiative to regulate how technology influences everyday sectors like housing, particularly amid growing concerns regarding affordable housing access and tenant exploitation in the rental market.
Summary
Bill S07882 seeks to address the use of algorithmic pricing in determining rental prices by prohibiting residential rental property owners and managers from using such systems in a manner that facilitates a non-competitive environment in the rental market. The bill establishes that it is unlawful for any person or entity to knowingly assist in creating agreements between rental property owners or managers that restrict competition, particularly in relation to setting rental prices or lease terms. This legislative action underlines the ongoing shift towards regulating technology use within the housing market, especially concerning how algorithms could impact market behavior and tenant rights.
Contention
Despite its intent to ensure fair competition and protect tenants, the bill has sparked considerable debate among stakeholders. Opponents, including property owners and real estate associations, argue that regulating algorithmic pricing could hinder innovative practices that might improve housing accessibility. They express concern that the bill might inadvertently limit landlords’ ability to leverage technology for more efficient management of rental properties. Moreover, critics worry that the bill sets a precedent for government overreach into business practices, potentially stifling economic growth within the rental market.
Same As
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 service, or algorithmic device that performs a coordinating function on behalf of or between and among such residential rental property owners or managers.
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 service, or algorithmic device that performs a coordinating function on behalf of or between and among such residential rental property owners or managers.
"Fair Business Practices Act of 1975"; any person from facilitating noncompete agreements between residential rental property owners or managers, including by use of algorithmic coordinating functions; prohibit
Amends the residential landlord and tenant act to prohibit the use of algorithmic renting-setting software that relies on nonpublic competitor data to determine rental prices or occupancy levels for residential dwelling units in Rhode Island.
Relating to certain municipal regulation of certain mixed-use and multifamily residential development projects and conversion of certain commercial buildings to mixed-use and multifamily residential occupancy.
In tenement buildings and multiple dwelling premises, further providing for definitions and providing for borrowing requirements, for abandonment of residential rental property and for maintenance by receiver; and imposing penalties.