New York property owners who rent residential premises know the importance of security deposits from tenants to help protect owner investment from tenant damage above and beyond normal wear and tear. As of June 14, 2019, a sweeping new state law placed new...
We previously wrote about New York City Local Law 22-1005 that provides permanent financial relief to third-party personal guarantors of certain commercial leases during the public health emergency. In that post, we explained that the regulation prevents legal action...
On March 19, indoor dining at New York City restaurants expanded to 50% capacity and at outstate restaurants to 75% capacity, according to the state government website New York Forward. Other restrictions on a variety of New York businesses are slowly loosening. Yet,...
The New York State Office of Temporary and Disability Assistance (“OTDA”) has granted a temporary modification to the FHEPS rental assistance program in light of the COVID-19 Eviction and Foreclosure Prevention Act. Prior to this waiver families with children under...
OWNERS OF RESIDENTIAL APARTMENTS BUILDINGS On December 2, 2020, Chapter 311 of the laws of 2020 was signed into law, requiring housing providers to “disclose to all tenants and prospective tenants of their right to request reasonable modifications and accommodations...
The Board of Directors of Borah Goldstein Altschuler Nahins & Goidel, P.C. is pleased to announce that Darren R. Marks, Carlos Perez-Hall, Jeffrey H. Seiden and Gregory G. Vail have been elected to the firm’s Board of Directors. Darren R. Marks has been practicing...
According to a New York City local ordinance enacted in response to the public health emergency, commercial property owners may not enforce third-party personal guarantees to pay rent, utilities, maintenance fees or taxes on which the tenant has defaulted from March...
The COVID-19 era has been a roller coaster for New York City commercial property owners. Collectively, the amount of money at stake in the commercial leases in effect within the five boroughs is certainly astronomical, and when rent payments start to disappear,...
New York City property owners in the residential rental market are likely facing increasing numbers of formerly stable renters who are breaking their leases and just walking away. The media is replete with stories about people who can no longer afford their apartments...
The impact of COVID-19 on property owners in New York City has been profound and, in some cases, financially devastating. The size and resources of the property owner have defined the scope of challenges caused by the delay in processing of summary eviction...
