Rent-stabilized tenants in New York City could see a rent increase as high as 4.5 percent or no increase at all. In a move with the potential to bolster Mayor Bill de Blasio's intention of freezing rents for rent-stabilized tenants, the Rent Guidelines Board approved a number of options, including the following:
Rent increases and higher property taxes have placed added financial burdens on many people throughout New York City, but a tax program included in the state's annual budget is meant to provide some relief. The $85 million program, dubbed "Circuit Breaker," will offer a state income tax credit for qualifying renters and small homeowners, including condominium owners and cooperative shareholders.
This winter was a rough one for New Yorkers, but residents of an apartment complex in Battery Park City say they were especially chilled because of the building's construction flaws. The 1,700-unit building was opened in 1986, and according to a class action lawsuit, temperatures in the apartments dropped so low that frost accumulated on the walls.
Right now, demand for retail space in New York is especially strong. That is why investors are undoubtedly interested RadioShack's recent announcement that the company intends to close 1,100 U.S. stores. While the exact locations of those stores weren't reported, New York's generally high rents are likely to make many of the city's RadioShack locations ripe for closure.
Some landlords in New York have reportedly implemented discriminatory building policies with regard to rent-regulated tenants. In particular, there have been reports that common areas and amenities were exclusively reserved for tenants who pay market-rate rent.
Nearly 70 percent of the housing market in New York City consists of rental units, and a significant number of those apartments are rent-stabilized. If the monthly rent for an apartment is $2,500 or higher, then the apartment may qualify for removal from rent regulation.
Despite how much one may crave the companionship of a pet, lease agreements and condo bylaws often prohibit residents from owning pets on the premises. However, as we discussed in a previous post -- "When must a landlord waive a no-pets policy?" -- there are situations in which tenants and condo owners can fight to keep their furry companions.
According to New York law, landlords are prohibited from demanding proof of income or proof of citizenship from tenants who have already signed valid leases. Castellan Real Estate Partners, a large real estate firm in New York City, was accused by tenants of violating that law.
When tenants rent an apartment, they have the reasonable expectation that the landlord will not let the property fall into disrepair. Unfortunately, though, sometimes a landlord will run into financial trouble or simply won't fulfill obligations such as providing heat and exterminating pests. In these cases, it may be necessary for the tenants to band together to take legal action.
Landlords in New York generally include some language in tenant agreements that addresses the issue of pets. This language can be general or very specific. There are legal precedents, though, for a landlord being forced to waive a no-pets policy: namely, if a tenant has a service or support animal.