New Laws & Regs

File High-Income Rent Deregulation Form by June 30

May 29, 2012    

This is the first year since the passage of the Rent Act of 2011 that the high-rent deregulation process will incorporate new household income and monthly legal regulated rent thresholds. If you have a tenant who's paying a monthly rent of $2,500 or more for a rent-controlled or rent-...

New Federal Law Requires Adverse Action Notices to Include Credit Scores

July 18, 2011    

The federal Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 requires users of consumer reports, beginning on July 21, 2011, to also provide credit scores to prospective tenants if the score was used in taking adverse or unfavorable action against the tenant. Adverse action...

NYC Raids Illegal Hotels as New Law Takes Effect

June 20, 2011    

On July 23, 2010, Governor David A. Paterson signed into law a bill prohibiting transient use in any “class A” multiple dwelling building. The law became effective on May 1, 2011, and it was created to crack down on “illegal hotels” that have proliferated throughout New...

New ADA Requirements May Affect Building's Pools

January 25, 2011    

The Americans with Disabilities Act (ADA) applies to “public places” and not to private communities. However, if your building allows public use of its swimming pool or other facilities, you may be subject to the ADA and its most recent revisions.

In 2010, the U.S. Department...

What Owners Need to Know About the Federal "Red Flags Rule"

December 17, 2010    

The Red Flags Rule is a regulation published by the Federal Trade Commission (FTC) under its consumer protection authority to compel businesses to develop written plans to combat identity theft. It was created under the authority of the Fair and Accurate Credit Transactions Act (FACTA) and the...

What to Expect from NYC's New Energy Benchmarking and Auditing Laws

December 17, 2010    

New York is a city of buildings. According to data provided by the city, the electricity, heating, and hot water we consume in buildings accounts for 75 percent of New York City's greenhouse gas footprint, and $15 billion per year in energy costs. The city's largest buildings—over...

How to Comply with TFCA's Sign-Posting Requirements

November 1, 2010    

On March 2, 2010, New York City enacted the Tenant Fair Chance Act (TFCA). It places new disclosure requirements in connection with applications for renting apartments on owners and managers of buildings with six or more apartments.

New Bedbug Disclosure Law Requires Owners to Reveal Past Infestations

September 28, 2010    

Governor Paterson recently signed into law a bill aimed at helping prospective tenants combat the bedbug epidemic. The Bedbug Disclosure Act requires owners and managing agents to notify new rental tenants of bedbug infestations that have plagued the building and the tenant's individual...

Final Amendments to EPA's RRP Rule Go into Effect

July 26, 2010    

On July 6, 2010, the final amendments to the U.S. Environmental Protection Agency's (EPA) Renovation, Repair, and Painting (RRP) rule went into effect. These amendments added new requirements to the relatively new rules that went into effect in April of this year and were discussed in detail...

How to Comply with Federal and Local Disclosure Rules When Screening Applicants

May 12, 2010    

Choosing the right tenant is one of the most important decisions an owner can make. The right tenants pay their rent on time, do not cause any legal problems, and keep their apartments in good condition. To choose the best tenant among applicants, an owner should rely on a thorough screening...

EPA Implements New Lead-Paint Regulations

April 21, 2010    

On April 22, 2010, a new federal Environmental Protection Agency (EPA) lead-based paint rule called “The Renovation, Repair, and Painting Rule” took effect. The new rule requires owners to follow lead safe work practices when disturbing a painted surface in pre-1978 housing and child...

Color-Coded Standpipe and Sprinkler Requirements

October 26, 2009    

On Sept. 3, 2009, Mayor Michael Bloomberg signed a new local law that requires the uniform color-coding of standpipe and sprinkler systems, and professional certification that these...