Regulatory innovation, all the more important when financial resources are limited, can enable the creation of basement and cellar apartments by reducing the cost and complexity of the conversion process.
Many of New York City’s basement apartments exist within the gray market, due to the financial and regulatory barriers faced by homeowners wishing to undertake a conversion. Keeping these housing arrangements informal jeopardizes the safety and security of both tenants and homeowners, empowering neither with leasehold rights, and allows for unsafe living conditions. Streamlining a pathway for the conversion of basements into safe, legal apartments would make these arrangements safer and more stable for homeowners and tenants, and add urgently needed housing supply during a health, economic, and housing crisis.
Regulatory innovation, all the more important when financial resources are limited, could enable the creation of basement and cellar apartments by reducing the cost and complexity of the conversion process. Citizens Housing & Planning Council is excited to release our brief listing regulatory actions that can make basement apartment conversions safer, easier, and more affordable.
The following policies could address some of the most challenging regulatory barriers that homeowners confront when undertaking a conversion:
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