Down 3.6% compared to September

Apartment listings were up over 30 percent last month, creating competition for owners

Brooklyn, the median price for a unit fetched $3,850

Number of new lease signings down for the second consecutive month

Waitlists for vouchers are very long, with only a small number of housing vouchers issued annually

85,000 voucher holders in a city of roughly 5.4 million renters

Last year the Rent Guidelines Board approved the steepest increases in nearly a decade

Landlords want higher-than-average increases for NYC’s one million rent-stabilized tenants

Bureau of Labor Statistics (BLS) to create a rent index based on new tenants rather than the average of all renters

Rent may be falling quickly, but any drop is unlikely to impact inflation measurements until next year because of a […]

A third method is to convert rent-stabilized buildings into condos and co-ops

Deregulation severely limited by 2019 law, but may have happened anyway

The number of vacant rent-stabilized apartments has nearly doubled

Advocates are sounding the alarm about the growing number of empty rent-stabilized apartments

In 10 months, the rent aid program has received just a sprinkling of additional cash

Mom-and-pop owners protest failures of state’s rent relief

Inflation is the primary culprit

3.25% pencils out to a pittance

Combination apartment is proportionally higher than other rent-stabilized units in the building

Landlords warehousing apartments in order to combine neighboring units and increase rents

2019 rent law ended so-called luxury decontrol

As part of the deal, they must reset rents to legal rates, refund tenants the difference, and once again offer […]

Median rents in those spots are at least 26% below the median for the borough

More-affordable neighborhoods in Brooklyn and Queens see jump in interest during the apartment market’s peak season

Housing Stability and Tenant Protection Act, a sweeping rent reform passed by the state Legislature in 2019, dramatically limited landlords

Landlords blame the state’s rent law for making repairs a money-losing proposition; lawmakers don’t believe them

Prospect Lefferts Gardens experienced a 7.8%+ in average rents, and rents in Crown Heights jumped 5.3%+.

In Brooklyn, the average rents increased in 15 of the 16 neighborhoods it tracks

7% jump from the month prior and 21% increase above May 2021 levels

Brooklyn as median rents with concessions notched a new high of $3,206

Oil rose 70%, natural gas 21.6%, electricity, 11.1%

2% and 4% for one-year leases and 4% to 6% for two-year lease

Mayor Eric Adams says he wants to support small landlords

Some Democrats are calling proposed increases for NYC roughly one million rent-stabilized apartments

Landlords have also spent 25% of their income on property taxes, above the board’s findings of 20%.

Two weeks after the Rent Guidelines Board’s staff floated rent hikes of up to 4.5 percent on one-year leases for […]

While new renters arrive to fill the vacancies, giving the advantage to landlords

Many who can’t afford steep increases are migrating to other parts of the city.

Average hike was 1% under Bill De Blasio

Landlords’ costs jumped across the board from April 2021 to March 2022 except for property taxes, which dropped 3.7% because […]

Owner groups say rent-stabilized housing on brink of “collapse”

Profits plunged as rental income declined 3.8 percent year-over-year

Landlord groups had estimated that the state needed at least $2 billion to cover the 126,000 pending applications

Federal allocation is 7% of what state requested

Median rental prices rose 10.5% in February, to $2,900 from $2,625

Brooklyn saw increases in rents and declines in inventory

Rents are higher than they were before the pandemic.

While rents plunged at the start of the pandemic, they are now surging, and the increase is double the national […]

Rent-stabilized apartments were now “significantly devalued” compared to market-rate rentals.

Landlords argue that the rent-regulation system violates their constitutional property right

Landlord planned to increase her rent by 46.5%.

NYC rents were the highest in the nation

Brokers call this season’s market unprecedented

Tenants leasing apartments sight unseen and months in advance

Legislature has until April 1 to sign off on a budget

Relief needs approval by the state legislature and would take months

Emergency rental assistance will stop accepting new applications Sunday night

Gov. Hochul has asked for almost $1 billion in additional funding

Landlords lost about 20 percent of their revenue from rent payments

Analysis shows loss in rent revenue largely superseded by drop in expenses

Shield renters from eviction if their landlord raised the rent

Tenant advocates see a national trend; researchers are more skeptical

Paid out to more than 40,000 households.

As of September 22, the state has allocated $1.6 billion in federal funds

Treasury tried a new approach to get money out the door

Gov. Kathy Hochul touts $1.2B set aside for landlords, with $399M paid out

Delays, glitches, and now payments off by thousands of dollars

Only $300 million of the state’s $2.7 billion fund has reached landlords

Justices rule Biden’s eviction ban unconstitutional

Justices rule Biden’s eviction ban unconstitutional

A middle of the road one-bedroom apartment in Manhattan at the beginning of the pandemic cost about $3,417

New York City rents have overtaken San Francisco as the most expensive in the US

Avoid the overhead and stress associated with tenant turnover by focusing on retention.

If you’ve found great tenants who pay rent on time and respect your property

Three weeks before protection ends, only 4% of aid has reached New Yorkers

Tenant applications for over $460 million in aid had been approved but were awaiting landlord participation

Tenants with rental arrears pay what they can when they have it

Without rent relief, property owners weigh whether to wait or sell

$3 billion of the $46.6 billion Congress allotted in rent relief has reached those who need it

Local logjams have meant just $3B of $47B has been sent to tenants, landlords

But it’s been a long time coming, and many landlords aren’t happy

When it expires, renters will have to start paying again, or risk eviction and court

Number of listings on the market had risen 279 percent compared to this time last year.

Brooklyn, the median rental price was down 11.3 percent — to $2,700 — compared to June of 2020

First six months of the lease but may increase it by 1.5% for the next six months.

On two-year leases, landlords may increase rent up to 2.5%.

Depending on your tenants’ income, they may be eligible for rent relief through the Emergency Rental Assistance Program

A new rent assistance fund began accepting applications this month

Landlords are making a last-ditch argument that helping tenants in need is the job of the government

The overall jump in expenses: 15%.

After a year of record price declines, lease signings are up and landlords are pulling back on rent concessions

After months of record price cuts and concessions, New York City’s rental market appears to be turning the corner

Renters are seeking more space than they might have prior to the pandemi

Some listings are receiving multiple applications within 24 hours of hitting the market

Investors describe New York's market as fragmented; institutional investors are coming back.

Rentals are now moving, there’s a pent-up demand, buyers are coming up to seller’s price.

Values would increase to $1,945 for a one-bedroom or $2,217 for a two-bedroom

Bill would increase subsidies for homeless New Yorkers to federal levels

Landlords have increasingly opted to not rent their units at all, in the hopes that the market will soon shift and they will be able to charge the rents they want.

It’s not against the law for landlords to keep apartments vacant

The state legislature approved the $2.7Bprogram in the budget that passed in early AprilThe state legislature approved the $2.7B program in the budget that passed in early April

Program will allocate $2.7B to tenants, landlords hit hard by pandemic

Fighting an uphill battle, plaintiffs set their eyes on a sympathetic Supreme Court

Five separate suits challenging the law’s constitutionality are still taking up space on court dockets.

Benefits include up to 12 months of rental arrears

New York’s rent relief site goes live — without applications New site has information on rental relief program

New York renters will have another lifeline when the statewide eviction moratorium sunsets.

Mayor signs bill giving representation to all low-income renters facing eviction

It is unclear how the state will need to revise its program based on the new guidelines

State must offer funds directly to tenants if landlords choose not to participate in the program

Landlords who accept it can’t evict a paying tenant for a year

New York landlords and tenants will gain access to $2.3 billion in federal aid allocated by the state.

Certain residential and commercial tenants can now avoid eviction until at least Aug. 31.

Frustrated landlords demand Albany get rent aid out the door

Albany legislators are expected to vote Monday to extend the state’s eviction moratorium until August 31s

Rent Stabilization Association, which represents 25,000 landlords, requested an increase of between 2 and 4 percent on one-year leases and 3 to 5 percent on two-year leases.

Property owners testified at Rent Guidelines Board’s Thursday meeting

A landlord fails to give a tenant the required notice, the amount they can raise rent during that one-year extension can drop to as low as 7%.

Tenants would have one-time option to extend leases up to a year

Landlords argue state lacks rational for extension

The extender bill is expected to go to a full vote in the Senate and Assembly later this week.

Rents fell by 10% year-over-year, the largest annual decline in Brooklyn has ever experienced

The market reached a new milestone in the first quarter of 2021, as NYC rents hit record lows

Falling rents mean holders of the federal vouchers have more opportunity to live in convenient locations or in units with more space and amenities.

Eligible units are still outnumbered by Section 8 recipients

On March 31, the CDC sent out a message: it was extending its moratorium on residential evictions until June 30, 2021

Small landlords in the NYC area to find out what this means for them.

Brooklyn rental market is on the upswing, particularly when compared to where things were a year ago.

Prices rising one year after pandemic hit, but don’t call it a full recovery yet.

Landlord, tenant groups voice concerns about certain provisions.

Newly bill, would bar evictions and rent increases for one year in cases where landlords accept aid.

HSTPA amended General Obligations Law (“GOL”) § 7-108 prohibit landlords from collecting more than one month of security or from taking any payment of future months’ rent

Landlords who charge more than one month’s rent for security at lease execution are taking a substantial risk.

The future for New York’s rental market, and for working at home, remains hard to predict.

During the pandemic, the difference between the median rent in the two boroughs nearly vanished.

New York has $2.3 billion from the federal government

Albany finally have the big bucks to pass a substantial relief program as part of the state budget

The federal ban on evictions has been extended yet again, bringing relief to tens of millions of renters struggling to catch up.

Most residential tenants fill out a hardship declaration.

There are no easy options when it comes to collecting back rent these days, so landlords would be wise to […]

It’s estimated that between 800,000 to 1.2 million households in New York collectively owe more than $2 billion in rent

Second Round of Rent Relief Reached Even Fewer People Than First

New York has paid out just $7 million out of $60 million available for struggling tenants

Barely 1% of tenants owing rent have received aid in second round

The Senate proposal would prevent landlords receiving rent relief from evicting tenants for nonpayment

Senate and Assembly released their one-house budget resolutions, providing a snapshot of each chamber’s priorities

I thought landlords were bluffing when they said the new rent law would force them to leave some apartments vacant.

Tenants who received rent relief had landlords who declined to participate in the program.

Some of those property owners are turning down the funding that they’re eligible for

In his decision, Ramos said the landlords “knowingly entered a highly regulated industry,” according to the report.

Judge says landlords have no constitutional right to “unregulated market”

Cuomo first announced a State moratorium on residential and commercial evictions on March 20 last year for a period of 90 days.

The state legislature is set to extend the eviction moratorium on small businesses and landlords with fewer than 10 apartment […]

Is this a sign that things are turning back to where they were pre-pandemic? Or does it show continued instability?

The shift in new lease signings seems to be happening quickly, especially for smaller units

Five small landlords sue AG Leitia James over hardship declaration requirement

Blanket moratorium on evictions is unconstitutional.

Hardship fund for small landlords and homeowners

Thousands of small landlords who have had their finances fractured by a year of eviction moratoria

Eviction bans and the weakening of the rental market have made landlords less inclined to play hardball

Tenants owe landlords $57 billion. What happens when they don’t pay?

Assistance is available, and how to apply so you can take advantage of this program

Commercial real estate investors that can be accessed through state and local governments

Small property owners are more likely than institutional landlords to own smaller, more affordable buildings

Mom-and-pop landlords say they’re being chased out of New York City

This bill does not purport to cancel rent, this bill pays the rent.

Newly amended legislation would distribute $1.3B in federal funds.

Rental activity that defined the Manhattan and Brooklyn markets at the end of 2020 has continued in the new year.

Large rent arrears mean owners are in default in majority Black neighborhoods.

Repeat of the foreclosure crisis with a disproportionate impact on Black and Hispanic landlords.

Monthly survey of 11.6M rental units showed slight uptick from January

That’s a slight uptick from last month, when 76.6% of renters made a payment by the first week of the […]

That proposal hasn’t progressed much, but state officials are now taking steps to push that vision forward.

Measure on accessory dwelling units comes with rent control

As dues enter into millions, lawsuits are flooding in

It’s been nearly a year since the start of the pandemic — and for some retailers, that means it’s been […]

The real estate community's alarm over a recent proposal to install sprinklers in every apartment highlighted landlords

Rising liability insurance costs, and delays in city approvals that are making it increasingly challenging to break even financially.

Though some banks have backed away from lending to multifamily, some investors are finding a niche by giving struggling apartment owners high-interest financing.

The share of the riskiest apartment debt held by banks rose to 17%

We think the arguments laid out in our brief and supported by the amicus filings today will be successful

We look forward to restoring property rights to thousands of property owners

President Joe Biden is extending federal limits on evictions through at least the end of March.

Biden is expected to move quickly to extend protections for renters, Bloomberg reported, and may sign an executive order within […]

Brooklyn, the December median rent, including concessions, was $2,564, down 11.4% from a year ago

Landlords in December continued to offer discounts not seen since the Great Recession

Provides no relief to landlords and mortgagees, no way to force the property to be income producing

If a tenant files a Hardship Declaration with an Owner, the Owner cannot bring an eviction proceeding before May 1, […]

Some commercial landlords have agreed to payment plans or lease payments based on a percentage of tenants’ income

The ban on commercial evictions may continue through the spring, if Gov. Andrew Cuomo has his way.

Federal Reserve’s commitment to keep interest rates low until 2023, there may be a light at the end of the tunnel.

Rents are in freefall and the vacancy rate hit an all-time high of 5 percent.

Limits on ousting tenants will be in place until May 1

Cuomo had previously said he intended to extend existing legislation limiting evictions, portions of which were to expire at the […]

The median rent in November fell about 6 percent in Brooklyn and Queens, to $2,400 and $2,100, compared with the same period last year.

The pandemic devastated the housing industry this year, but there were a few flickers of life.

State lawmakers are racing to pass legislation before the end of the year to significantly expand upon the existing limits on residential evictions.

Move comes hours after governor says current regime will be extended

Orders to halt evictions in New York expire soon. What happens next?

“We have this big coalition of organizations that are working to put pressure on the landlords directly to reduce the […]

Congress has finally reached a deal on a relief package that includes $25 billion in rental assistance, of which New York would receive $1.3 billion.

Landlord groups say it’s a good start, but not enough

Its omission of funding for city and state governments, however, means real estate will have to fight next year, in New York and probably elsewhere, to stave off tax increases.

Holes in the federal aid package will hurt the industry starting next year

20.97% of tenants living in rent regulated apartments paid no rent for December, up from 17.56% in November.

The government needs to step up and provide rental assistance to renters who cannot afford to pay, and give housing […]

New York City rents have fallen more this year than they did during the Great Recession

Brooklyn, rents dropped 6.3% year over year, and the median asking rent was $2,400. After the 2008 financial crisis, rents […]

That’s when she realized the apartment had been listed for $2,583 per month, $720 less than the landlord had been asking them for.

Her landlord told her the rent was increasing from $3,250 to $3,300. Knowing that it was a renter’s market, Knibbs […]

In Brooklyn, new leases signed last month were up nearly 28 percent, with 1,122 deals compared to last year’s 878.

The median net effective rent in Brooklyn was $2,619, down 8 percent from $2,855 a year ago. Inventory also remained […]

The funds were provided under the CARES Act and will be returned to the federal government if not spent by Dec. 30

$60M in funds will be returned to federal government if not used by Dec. 30 deadline

The package would include a hardship fund for small landlords that could enable cancellation of rent in the state.

A federal relief package benefiting New York may not happen until February

New leases hit the highest October total in 12 years, rising 33.2 percent over October 2019

Renters returned to Manhattan and Brooklyn in October—in a big way. Months of falling rents and rising concessions—spurred by a […]

Median rent dropped by 3%, and 27K apartments are available

Brooklyn saw a decline in both prices and inventory. The median rent fell 3% to $2,615 from $2,700 the month […]

The state’s Division of Homes and Community Renewal has turned down thousands of applicants

More than 57,000 New Yorkers who didn’t meet the program’s requirements did not receive aid from the agency

NYC largest multifamily lender said rent collections in its loan portfolio have returned to pre-pandemic levels and the vacancy rate less than 3%

NYCB execs say apartment vacancy rate is low; share price down 31 percent this year

Manhattan listings make up the bulk of NYC rentals on the market

The pandemic and subsequent shutdowns have dealt a serious blow to New York City landlords, sending vacancy rates soaring and […]

Rent payments are down 2% since 2019 but unchanged from September

The National Multifamily Housing Council’s monthly payment tracker, which collects data on collections in 11.4 million market-rate units, found that […]

if you are new to being a landlord, your checklist should include getting up to speed on the impact of the 2019 changes to the rent laws...

If you are new to being a landlord it’s worth going to extra lengths to find a financially qualified tenant.

Small property owners will take to the streets to demand action

Rents across the city continued their downward slide in September, and hundreds of frustrated landlords are feeling the crunch & […]

The recovery is tenuous, but renters are returning, buyers are getting deals, and those who stayed are finding a measure of vindication.

New Yorkers who left at the peak of the pandemic are starting to come back, lured by a range of […]

Gov. Andrew Cuomo signed an executive order extending the Tenant Safe Harbor Act until Jan. 1, 2021.

The law prohibited courts from issuing eviction warrants for unpaid rent that was due from the beginning of the crisis […]

Several rent-stabilized apartments sitting vacant, with no plans to renovate them Last year’s legislative changes have her rethinking the future.

Landlords explain why even affordable units are empty

Lawyers representing tenants will be a party to all 5 cases, although landlords had argued for their exclusion

To the dismay of landlords, tenants now have a seat at the table in the legal challenges to New York’s […]

Retail & apartment vacancies rising & rents falling, & employers cutting...

Before the pandemic emptied the city, few lenders benefited from the heady local real estate market…

What's Really Happening in the NYC Residential Market?

New York’s residential markets to a crisis: a decline in rents, largely in affordable multi-families with work-force tenants…

Missed mortgage payments during the period totaled about $16B

Almost 11 million households were behind on rent or mortgage payments during the first three months of the pandemic.

The pandemic hit hardest in areas already bearing the brunt of the city’s affordability crisis.

As the rate of new COVID-19 cases has slowed in New York City, relief from the city’s high rents has […]

Many apartment landlords across the U.S. maintain that tenants are paying rent...

Some multifamily owners have pegged occupancy rates at 90%, but a key index that tracks publicly traded landlords has fallen […]

In the order, the CDC says COVID-19 “presents a historic threat to public health”

New York’s rental housing providers have rounded on the Trump Administration after it introduced a new moratorium on…

No-fee listings in Manhattan and Brooklyn are increasing, as the city sees an exodus of residents

No-fee listings made up 75 to 85 percent of all listings in Manhattan and Brooklyn in August, the New York…