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Tenants

All articles tagged with #tenants

real-estate1 day ago

Court lets Brooklyn Summit deal go forward as Mamdani fails to halt it

A US bankruptcy judge rejected New York City Mayor Zohran Mamdani's bid to block Summit Properties' $451 million real-estate deal in Brooklyn, a sale covering more than 5,000 rent-regulated apartments across 90 buildings. The ruling allows the bidding to proceed despite claims that Summit lacks the will/resources to rehabilitate the properties; tenant demonstrations occurred outside Summit's offices, and the next hearing for final approval is set for Thursday."

via The Jerusalem Post|
#brooklyn#real-estate#summit-properties
politics1 year ago

"Albany Nears Major Housing Deal to Address NYC Affordability Crisis"

Lawmakers in Albany are close to reaching a housing deal in New York that could lead to the construction of new homes and provide protections for renters. However, different factions representing tenants, landlords, and construction workers are still at odds over key priorities, such as eviction restrictions and tax breaks for developers. Governor Kathy Hochul expressed optimism about the progress but emphasized the delicate nature of the negotiations, likening it to a game of Jenga. The left wing of the Democratic Party is advocating for a "good cause eviction" bill to limit landlords' ability to evict renters and deter sharp rent increases.

via The New York Times|
#eviction#housing-crisis#housing-deal
legal-real-estate1 year ago

Supreme Court Upholds New York Rent Stabilization Laws

The Supreme Court declined to hear challenges to New York's rent stabilization laws, which impose strict rules on landlords leasing some units, meaning the laws will stand. The laws, which apply to buildings with six or more units built before 1974, limit rent charges and lease renewals, and make it difficult for landlords to convert rental units into condominiums. Landlords argued the laws violate the US Constitution, but lower courts ruled against them. The city's lawyers argued the laws protect tenants and communities, and the Supreme Court declined to intervene, leaving the rent stabilization laws in place.

via CNN|
#landlords#legal-real-estate#new-york
legal2 years ago

Tornado aftermath: Attorney secures relief for displaced Clarksville residents

Tenants of the Blue Grass Meadows apartment complex in Clarksville, Tennessee, were given a short notice to remove their belongings and vehicles from the tornado-damaged property. However, a local attorney, Rosemary Calcese, stepped in and successfully obtained a temporary injunction and restraining order against the apartment complex management, freezing their control over the property for at least 14 days. Calcese took on the case pro bono and expects negotiations with the management to take place.

via Clarksville Now|
#attorney#blue-grass-meadows#legal
crime2 years ago

Landlord Sets Fire to NYC Home with Children Inside Over Unpaid Rent

A Brooklyn landlord, Rafiqul Islam, has been arrested for allegedly setting fire to a house with a family of tenants inside after they stopped paying rent and refused to move out. The incident occurred in New York City on September 26. The tenants, consisting of two adults and six children, managed to escape with minor injuries. The father threw four of his children out of a rear window to neighbors, while firefighters rescued the other two. Islam faces multiple charges, including attempted murder and arson. The dispute between the landlord and tenants reportedly began in January when rent support payments were cut off, and the tenants moved in during the COVID-19 pandemic.

via Fox Business|
#arson#attempted-murder#crime
real-estate2 years ago

The Debate Over a 3-Year Ban on Evictions: Tenant Stability vs. Landlord Debt.

Small-property landlords in Oakland and neighboring San Francisco and Berkeley are protesting against the eviction moratoriums that have been in place for over three years, claiming that they have been saddled with debt and foreclosure worries while their tenants, who have jobs, live rent-free. The eviction moratorium in Oakland expires on July 15, and tenants must start paying rent in August in most cases, but cannot be evicted for back rent if their financial hardship was caused by the pandemic. Meanwhile, nationwide eviction filings have come roaring back since the bans ended, with filings topping 500 in May in California’s Alameda County, compared to 65 in April before the ban ended.

via The Associated Press|
#eviction-moratorium#housing-crisis#landlords
politics2 years ago

Oregon Legislature Makes Significant Progress on Key Bills.

Oregon's rent cap bill is close to being passed after undergoing significant cuts. The bill would limit annual rent increases to 7% plus inflation and would also allow cities to implement their own rent control policies. The legislation has faced opposition from landlords and property owners, but supporters argue that it is necessary to address the state's housing crisis and protect tenants from skyrocketing rents.

via KATU|
#housing#legislation#oregon
business2 years ago

Rent hikes approved for NYC and Nassau rent-regulated units

The Rent Guidelines Board has approved rent increases for New York City's approximately one million rent-stabilized apartments. Landlords will be able to increase rent by 3% on one-year leases and 2.75% for the first year on two-year leases, and 3.2% for the second year. The rent increases apply to new leases signed on or after Oct. 1, 2023. Tenants and advocates had decried the proposed rent hikes, calling for a rollback or freeze on rent instead. The Legal Aid Society criticized the Rent Guidelines Board's decision, while the Rent Stabilization Association said the board ignored their own data.

via PIX11 New York News|
#business#new-york-city#rent-guidelines-board
business2 years ago

Rent stabilization votes spark controversy in major US cities.

The Rent Guidelines Board passed a preliminary first vote on proposed rent hikes for one-year and two-year leases for rent-stabilized apartments in New York City. The potential adjustment could increase rent 2-5% for one-year leases and 4-7% for two-year leases. Landlords and tenant advocates increased the pressure on the Rent Guidelines Board ahead of the vote on Tuesday night. The decision will impact nearly 2 million New Yorkers.

via WABC-TV|
#business#landlords#rent-guidelines-board
real-estate2 years ago

"Competition for Prime Real Estate in Manhattan Intensifies"

Paul Weiss, a tenant at RXR Realty and China Life’s 1285 Sixth Avenue for nearly 30 years, is considering a move into slightly less space at Fisher Brothers’ 1345 Sixth Ave. when its lease at 1285 expires at the end of 2026. Meanwhile, UBS is considering moving large units of Credit Suisse from SL Green’s 11 Madison Avenue to 1285 Sixth, which has thrown a monkey wrench into the situation at 1285 Sixth, where its lease runs beyond 2030. The drama plays out against the backdrop of the Sixth Avenue/Rockefeller Center subdistrict, which is healthier by most metrics than all but one other corridor.

via New York Post |
#fisher-brothers#manhattan#office-space
real-estate2 years ago

Rental Market Frenzy Continues Despite Overall Inflation Slowdown

A shortage of rental properties to match demand from tenants is causing a rise in the cost of renting, according to the Royal Institution of Chartered Surveyors (RICS). The proportion of RICS members reporting growth in demand was at a five-month high in March, with rents expected to rise across the UK, averaging a 4% annual increase. The rental sector is constrained by a lack of homes, with tax and regulations leading many landlords to consider whether to continue or sell up.

via BBC|
#landlords#property-shortage#real-estate