Share via Shortlink
BHS CEO Bess Freedman, Sotheby’s CEO Philip White, REBNY head James Whelan, Douglas Elliman executive chairman Howard Lorber and Corcoran CEO Pamela Liebman (Getty, iStock)
An Albany judge sided with the real estate industry Friday, declaring New York state regulators’ attempt to ban tenants from paying landlords’ broker fees an “error of law.”
The decision comes more than a year after the Department of State issued guidance banning the practice. That guidance offered regulators’ interpretation of the Housing Stability and Tenant Protection Act, which became law in June 2019.
In response, prominent real estate trade groups and residential brokerages filed for a temporary injunction against state regulators and sought to overturn the guidance, which they said wreaked “havoc and confusion” on agents and renters.
Manhattan judge dismisses New York City landlords suit, upholding constitutionality of 2019 rent laws nydailynews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from nydailynews.com Daily Mail and Mail on Sunday newspapers.
Highlights
The New York Senate and Assembly recently introduced respective
bills that would preclude the owners of cooperatives, condominiums,
hotels and rental buildings from being able to evict a tenant,
subtenant, or someone without a lease or other occupancy agreement
(broadly defined as a tenant ) unless the landlord can
demonstrate good cause for the eviction.
If enacted, the bills would fundamentally change how someone
owning real estate could treat an occupant of space regardless of
whether the occupant had a legal right to occupy the space, which
would seriously damage the economic viability of residential real
estate including cooperatives, condominiums apartment houses and
To embed, copy and paste the code into your website or blog:
The New York Senate and Assembly recently introduced respective bills that would preclude the owners of cooperatives, condominiums, hotels and rental buildings from being able to evict a tenant, subtenant, or someone without a lease or other occupancy agreement (broadly defined as a tenant ) unless the landlord can demonstrate good cause for the eviction.
If enacted, the bills would fundamentally change how someone owning real estate could treat an occupant of space regardless of whether the occupant had a legal right to occupy the space, which would seriously damage the economic viability of residential real estate including cooperatives, condominiums apartment houses and hotels.