Multifamily Regulations and What You Can Do About Them
In June of 2019, the state passed the Housing Stability and Tenant Protection Act of 2019, severely restricting landlords’ ability to increase rents to pay for the costs of unit renovations and building improvements and repealing luxury deregulation. CHIP NYC’s recent survey of its members shows that 69 percent of building owners have responded to the new law by limited investments in apartment upgrades by more than 75 percent. Add to this, various executive orders including eviction moratoriums, and the outlook for the local apartment industry appears bleak. As a result, valuations for apartments have dropped 10% from the summer of 2019 to the summer of 2020. What does the future hold and how can we collectively fight anti-landlord legislation and executive orders?
- What regulations are currently in force and how they affect multifamily?
- What is the status of the court system and how will this impact landlord-tenant cases?
- What do you do about tenants who stopped paying and won’t communicate?
- What are the best strategies to handle rent payment delays, defaults and disputes?
- How are top owners changing their strategies in light of the regulations?
- What is the industry doing to combat these regulations and how can you help?
- Are there even greater restrictions on the legislative horizon?
- Sherwin Belkin, Partner, Belkin Burden Goldman
- Francis Greenburger, CEO, Time Equities
- Jim Lapides, VP – Government Affairs, NMHC
- Paimaan Lodhi, SVP – Policy & Planning, REBNY
- Jay Martin, Executive Director, Community Housing Improvement Program
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