Over the years, multifamily co-op and condominium buildings have been notorious for the plethora of restrictions many impose upon residents, from smoking bans to strict quiet hours to forbidding holiday displays. While many of these restric…
Category: Law & Legislation
Several new environmental rules are in the pipeline for multifamily co-op and condo communities in New York City. One, Local Law 157 relates to natural gas detectors, and the other, Local Law 88, as amended by Local Laws 132 and 134, requir…
Back in 2021, Congress passed the Corporate Transparency Act (CTA), a federal law requiring most corporations, LLCs, and other such entities to register with the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN). The …
New York City already had the largest, most extensive, most specific list of protected groups in the nation when it comes to housing discrimination. With the New York State Legislature’s passage of the Fair Chance Housing Act earlier this y…
It appears that a federal program aimed at assisting low- and moderate income shareholders in Mitchell-Lama and other subsidized co-op properties through a New York State agency is coming back to complicate, rather than simplify, residents’…
The National Housing Conference (NHC) recently launched its latest venture in the organization’s ongoing effort to address the persistent affordable housing crisis in America: “Beyond Four Walls: Conversations on Affordable Housing,” a bimo…
According to a recent item published by the National Housing Conference (NHC), the Executive Council for Housing Affordability (ECHA) at the J. Ronald Terwilliger Center for Housing Policy sent a letter to Congressional leaders on Novem…
Almost as if by coincidence, given last week’s historic rains and flooding, New York State has recently passed two laws that provide some answers for homeowners and renters affected by the intense weather event. The first, Section 231-B of …
The New York State Department of Taxation and Finance recently took the position that a revocable license granted for a parking and storage spaces in a condominium building constituted a conveyance of real property under Article 31 of the s…
Yet another new law has recently passed that affects co-ops, condo and HOA boards, as well as residents who lease their units. The law addresses the potential for flooding of leased residential premises due to historic rainfall and natural …