We use cookies to provide you with a better experience. By continuing to browse the site you are agreeing to our use of cookies in accordance with our Cookie Policy.
This is the first year since the passage of the Rent Act of 2011 that the high-rent deregulation process will incorporate new household income and monthly legal regulated rent thresholds. If you have a tenant who's paying a monthly rent of $2,500 or more for a rent-controlled or rent-stabilized apartment, it might be time to send out the second of two Division of Housing and Community Renewal (DHCR) forms that may eventually lead to deregulation of the apartment. If...
The federal Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 requires users of consumer reports, beginning on July 21, 2011, to also provide credit scores to prospective tenants if the score was used in taking adverse or unfavorable action against the tenant. Adverse action notices are provided to rental applicants who, after the tenant screening process, are denied or conditionally accepted (that is, subject to a cosigner or higher deposit) based on in...
On July 23, 2010, Governor David A. Paterson signed into law a bill prohibiting transient use in any “class A” multiple dwelling building. The law became effective on May 1, 2011, and it was created to crack down on “illegal hotels” that have proliferated throughout New York City.
The Americans with Disabilities Act (ADA) applies to “public places” and not to private communities. However, if your building allows public use of its swimming pool or other facilities, you may be subject to the ADA and its most recent revisions.
In 2010, the U.S. Department of Justice issued final regulations revising Title II and III of the ADA, including the ADA Standards for Accessible Design. The revised regulations will take effect March 15, 201...
New York is a city of buildings. According to data provided by the city, the electricity, heating, and hot water we consume in buildings accounts for 75 percent of New York City's greenhouse gas footprint, and $15 billion per year in energy costs. The city's largest buildings—over 50,000 square feet—comprise nearly half of our total space.
The Red Flags Rule is a regulation published by the Federal Trade Commission (FTC) under its consumer protection authority to compel businesses to develop written plans to combat identity theft. It was created under the authority of the Fair and Accurate Credit Transactions Act (FACTA) and the federal Fair Credit Reporting Act (FCRA).
On March 2, 2010, New York City enacted the Tenant Fair Chance Act (TFCA). It places new disclosure requirements in connection with applications for renting apartments on owners and managers of buildings with six or more apartments.
Governor Paterson recently signed into law a bill aimed at helping prospective tenants combat the bedbug epidemic. The Bedbug Disclosure Act requires owners and managing agents to notify new rental tenants of bedbug infestations that have plagued the building and the tenant's individual apartment during the previous year.
On July 6, 2010, the final amendments to the U.S. Environmental Protection Agency's (EPA) Renovation, Repair, and Painting (RRP) rule went into effect. These amendments added new requirements to the relatively new rules that went into effect in April of this year and were discussed in detail in the May 2010 issue of the Insider.
Choosing the right tenant is one of the most important decisions an owner can make. The right tenants pay their rent on time, do not cause any legal problems, and keep their apartments in good condition. To choose the best tenant among applicants, an owner should rely on a thorough screening process that includes checking references, verifying employment, and obtaining credit and background reports.
RSS