Yes, that is correct. Senate Bill S2892B will create permanent tenancy & mandatory lease renewals!
Not something any New York State rental property owners will find beneficial.

If there is not enough opposition to this bill then there is a high probability that you will see Senate Bill S2892B as law between now and 5/31/2020!
What you need to know:
Click HERE to check out RSA’s (Rent Stabilization Association) 3 part 4 minute, YouTube explanation of Senate Bill S2892B.
Click HERE to read the PDF of RSA’s Memorandum in Opposition of Good Cause Eviction.
Click HERE to access Senate Bill S2892B on The NY State Senate website. As 03-09-2020 it is in committee and NOW is the time to VOICE YOUR VIEWSbefore a vote in either the Assembly or Senate!

What to do next, now, to help:
1 – Use this LINK to find your NY State Senator by filling in your address and zip code.
2 – Use this LINK to find your NY Assembly Member by filling in your address and zip code.
3 – Click on the Senator’s and/or the Assembly Member’s name and that will take you to their respective profile pages.
4 – On the profile pages you have all the information you need to email and/or call and/or visit your Senator AND your Assembly Member to voice your views on Senate Bill S2892B and how it will negatively impact the owners of real estate in New York State and remove the incentive to own rental property here.
5 – Share this blog with as many people as soon as possible via email, social media and word of mouth because if there is not enough opposition there is a high probability that you will see Senate Bill S2892Bl as law between now and 5/31/2020!

The more opposition – the greater the chance, we together, will interrupt state lawmakers from further restriction of the rights of property owners in NY State.

In the meantime if you have additional questions, please reach out. 
Mobile – 917.232.8529 (Call or Text)
Email – bill@billweidner.com