Hundreds Gathered for 18th Annual Regional Global Real Estate Summit in New York City
New York City remains a top market for investment for international groups.
This dispute could have far-reaching implications beyond the real estate industry, as the split-decision ruling from the Circuit Court conflicts with the existing precedent of both the D.C. Circuit Court and the U.S. Supreme Court.
A noteworthy legislative amendment was the exclusion of “squatters” from the definition of “tenant” under the current tenancy laws.
It is important to note that while the new Good Cause Eviction Law went into effect in New York City immediately, other municipalities throughout New York State will need to opt-in by enacting this legislation if they so choose.
At the recent May 1, 2024, HGAR Board of Directors meeting, the Board voted on two association matters relating to the filing of arbitrations and administration of ethics complaints.
In the weeks leading up to heavy negotiations in Albany, HGAR personally educated more than two dozen elected officials on Good Cause Eviction and the most problematic aspects of valuing tenant protection over property rights.
The most common entities that run the risk of losing the limited liability protection are small, closely held corporations and LLCs made up of family members or a small number of shareholders and members.
New York has gone to great lengths to ensure that consumers are treated fairly. All licensees are now tasked with ensuring all members of the public are treated with equity to ensure that steering and all other forms of discrimination are rooted out and eliminated.
The settlement achieves two important goals: protecting members to the greatest extent possible and preserving consumer choice.
The new PCDS includes new language that requires the disclosure of issues related to flooding, but most importantly, it removes the $500 credit/waiver, which would have been provided by the seller to the buyer if the seller failed or refused to provide the PCDS.
HGAR supports legislation that adds affordable rent-stabilized apartments to the rental housing stock that are safe, lead-free, energy efficient, and fully compliant with building codes.
Any attempt by a homeowner or landlord to remove a “squatter” (and a tenant or holdover tenant) utilizing “self-help” would be deemed an unlawful eviction [and the owner or landlord would be subject to criminal liability.
Studies have shown that the construction of 100 units of multifamily housing generates an average of 161 jobs and $11.7 million into the local economy in the first year.
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