One of New Yorkers' biggest challenges is living harmoniously in multi-unit buildings. While any issue with a neighbor can be stressful and complex, the nature of the shared walls, floors, ceilings, and common spaces means that what happens in one residence can...
Residential real estate transactions typically take weeks to complete. They begin with the seller listing the property on the open market. The buyer makes an offer. Both parties negotiate the terms of a purchase agreement. From there, there may need to be inspections...
Condominium bylaws serve as the governing rules that dictate how a condo community operates. These regulations cover everything from board elections and maintenance responsibilities to pet policies and noise restrictions. However, as legal frameworks evolve and...
New York has many rules that regulate tenant's security deposits. First and foremost, the state limits how much residential landlords can require. Typically, a security deposit should not exceed one month's rent. Landlords can request both the last month of rent and a...
As of January 1, 2025, several significant real estate laws have been enacted in New York, aiming to address housing affordability and availability, streamline development processes and change the economic dynamic of the rental market. These changes reflect the...
On December 3, 2024, a federal court in East Texas issued a nationwide preliminary injunction against the Corporate Transparency Act (CTA), halting its January 1, 2025, enforcement and reporting requirements. While the Department of Justice appealed this decision on...
The New York City Council recently passed significant legislation known as Intro 360, or the Fairness in Apartment Rentals Expenses Act. This bill, passed in a veto-proof 42-8 vote, introduces a notable change in the real estate market by shifting the responsibility...
New York City's real estate market has always been a dynamic beast, but the introduction of Local Law 18 in September 2023 sent shockwaves through the industry. This controversial legislation aimed to tackle the city's housing crisis by cracking down on short-term...
Renovating a condo or co-op unit in New York City can be complex, often governed by clearly defined guidelines set by the building's board. The board drafts these guidelines to ensure that renovations are carried out by licensed and insured contractors safely,...
Earlier this year, we discussed how the National Association of Realtors' $418 million settlement involving 20 brokerage houses upended the commission structure across the United States. The changes went into effect on August 17, 2024. The seller no longer pays the...
