NYC Council Passes Bill to Increase Cost of Gas Appliances, Landlords and Developers Rejoice
NYC Council passed a bill requiring a master plumber for gas appliance installations, leading to increased costs for tenants and a win for landlords and developers.
The NYC Council has passed a new bill that will require a master plumber for basic installations of gas stoves and dryers, adding hundreds of dollars to the cost for landlords and homeowners. This bill, dubbed the "Plumber Employment Act" by some, has drawn criticism as it will ultimately make appliances more expensive for tenants.
The bill, which was passed on Thursday, has been met with praise from landlords and developers who will benefit from the increased costs. One landlord, who wished to remain anonymous, stated, "This is great news for us. We can now charge more for rent and justify it by saying we have to cover the costs of a master plumber."
The legislation has also been called the "Keep Your Old Appliances Act" as it will make it more difficult for tenants to upgrade their appliances. The bill will not only affect landlords, but also homeowners who will have to pay more for installations.
Opponents of the bill argue that it goes against basic economic principles, as it will decrease the demand for gas appliances due to the increased cost. This could ultimately lead to fewer gas appliance installations and a decrease in the availability of affordable housing.
One real estate developer, who spoke on the condition of anonymity, stated, "This bill is a win for us. It will make it more difficult for tenants to upgrade their appliances and justify higher rent prices. It's a win-win situation for landlords and developers."
While the bill has been passed, it has yet to be signed into law by Mayor Bill de Blasio. However, with the support of landlords and developers, it is expected to be enacted soon.