When someone rents an apartment, condo or house in NYC, the landlord will typically ask for a security deposit. The tenant will pay this money at the start of the lease. The security deposit helps protect the landlord if the tenant damages the rental unit or fails to...
Landlords in New York City can evict tenants for failing to pay rent, breaking the terms of the lease, or remaining in possession after the lease expires. However, landlords must strictly follow the proper legal process and, where required, give advance notice to the...
The smooth operation of a New York City cooperative or condominium requires the oversight of a qualified board of directors or managers. Bylaws, in large part, provide the legal authority the board members use to make decisions that guide the future of the building,...
The economy is way down in 2020 as businesses close up for good or shift to working from home. This is terrible news for all, but co-ops and condos who have commercial tenants who pay a large share of the operating expenses face substantial shortfalls of income that...
Responsibility and accountability go hand-in-hand when it comes to acting as a board member for either a condominium or co-op. Board directors face a wide range of decision challenges that may lead to disgruntled unit owners bringing a lawsuit against either...
Co-op boards in New York City must be aware of the Federal, State and City laws about housing discrimination. Knowledge of these regulations can help the board avoid serious problems if a potential buyer files a discrimination claim or if an issue arises with building...
When unit owners of a condominium or shareholders of a co-op elect members to a board of managers or directors, they entrust those members with a great deal of power. From handling association finances to developing and enforcing property regulations, board members...
Countless New Yorkers are living in financial uncertainty. And, as some tenants in co-ops struggle to pay their rent or maintenance, co-op boards are starting to feel the pinch. Many properties, like co-ops, require collective participation by occupants to help pay...
In June of 2019 the New York State Legislature enacted the Housing Stability and Tenant Protection Act (“HSTPA”). The HSTPA dramatically changed the nature of rent overcharge claims, which are claims by a rent regulated tenant that he or she has been charged more rent...
As the coronavirus pandemic sweeps the nation, New York City co-ops and condominiums are grappling with difficult questions. Social distancing – the frontline strategy that’s so essential for mitigating the spread – is much more complicated in New York City than, even...
