The Rent Regulations are coming...The Rent Regulations are coming...
Posted by PreRealâ„¢ Prendamano Real Estate on
Well, if you’re in the Real Estate business, by now you have probably read your fill of articles on the new rent regulations and how they will impact your respective portfolio. The changes are coming fast and furious. If you take the time to do some digging, you will find these sweeping changes are not limited to Rent Controlled and Rent Stabilized units. Market Rate units are also significantly impacted. Layer on top of this, New York State has amended its Human Rights Law to include Source of Income as a protected class and you have a perfect storm - and it’s headed right for the residential multi-family market in New York City. While the sheer quantities of the housing stock in NYC and the other boroughs is significantly higher than Staten…
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