Most owners know that NYC’s façade inspection safety program (FISP), formerly known as Local Law 11, requires periodic inspections of a building’s exterior façades. These inspection requirements were initiated in response to fatal injuries from falling masonry. Most recently, in...
NYC Local Law 30 of 1970 stipulates that Maximum Base Rents be established for rent-controlled apartments according to a formula calculated to reflect real estate taxes, water and sewer charges, operating and maintenance expenses, return on capital value, and vacancy and collection loss allowance....
Dos & Don'ts
If you have rent-stabilized tenants in your building and you’re considering switching from a key- or fob-based entry system to a biometric fingerprint system, you may want to reconsider.
In the News
Recently, a New York State judge temporarily blocked the state’s guidance that had effectively barred tenants from having to pay a broker fee. The judge’s order prevents legal action against brokers who collect a fee, until both sides can present their case on March 13, 2020.
In the News
City Comptroller Scott Stringer recently issued a policy brief calling for a “Tenant Bill of Rights” to be provided in every lease packet. He’s calling for legislation that would mandate this communication. Stringer believes current leases are confusing to tenants and can hide...