(DNAINFO)  Amy Zimmer | October 31, 2016 — A package of legislation introduced Monday would target predatory equity.

As tenants increasingly fall victim to harassment by private equity landlords trying to force them out of their homes, City Council members are trying to expand safeguards for them.

The City Council introduced three bills on Monday to increase protections for tenants facing potential harassment from predatory equity owners — so called because they buy buildings at high prices assuming they can recoup their investment once rent-stabilized or rent-controlled units are de-regulated.

There are a number of ways these landlords try to push out tenants of rent-stabilized units in efforts to get market-rate prices, advocates say, including charging illegal fees on top of rent, neglecting building maintenance to allow physical conditions to deteriorate, or violating construction safety regulations which can create possibly dangerous situations for existing tenants.

There’s also an issue with these buildings being overleveraged and having a high debt-to-income ratio that could lead to building foreclosure.

“Tenants are more than ever fearful of gentrification, rising rents and displacement, and actions by predatory landlords and lenders are aiding these fears,” said Bronx City Councilman Ritchie Torres, who called the legislative package the first of its kind to confront predatory equity and give the city more information about the tactics used to push tenants out.

Source: 3 Ways the City Council Wants to Curb Tenant Harassment and Evictions – Belmont – DNAinfo New York