When you buy commercial property in New York City, you also take on the existing tenants. This can be a big problem especially if those tenants do not pay their rent on time or damage the property. These issues can be costly. The failure to manage these tasks timely...
New York Real Estate Legal Blog
Are there limits imposed when increasing condo association dues?
Condominium association common charges are an important component for those who live in a condo building or community. The board of managers oversees the management of shared facilities and sets and collects the monthly common charges from all of the condo owners....
3 rules that apply to New York condo board meetings
Condominium boards often consist of volunteers who live in the community. They help oversee the management of the property and the enforcement of community rules for the benefit of everyone who owns a condo. Those volunteers often have a challenging process ahead, as...
3 potential solutions when neighbors litigate a boundary dispute
Neighbors often try to keep a polite overall demeanor to sustain relatively positive relationships with one another. After all, they have to see one another regularly, and the conduct of one neighbor can affect everyone in the neighborhood. Neighbors often maintain an...
Should you renovate before selling your home?
The U.S. remodeling market has experienced unprecedented growth, surpassing $600 billion in the post-pandemic era, and remains a remarkable 50% above pre-pandemic levels despite recent signs of slowing down. According to the Harvard Joint Center for Housing Studies'...
How to address water damage suffered by a resident?
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...
3 issues that could derail a scheduled real estate closing
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...
How often should condominium boards update their bylaws?
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...
When can landlords justify retaining a tenant’s security deposit?
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...
Key real estate law changes for 2025
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...