Gov. Kathy Hochul touts $1.2B set aside for landlords, with $399M paid out
Only $300 million of the state’s $2.7 billion fund has reached landlords
New York City rents have overtaken San Francisco as the most expensive in the US
If you’ve found great tenants who pay rent on time and respect your property
Tenant applications for over $460 million in aid had been approved but were awaiting landlord participation
Without rent relief, property owners weigh whether to wait or sell
Local logjams have meant just $3B of $47B has been sent to tenants, landlords
When it expires, renters will have to start paying again, or risk eviction and court
Brooklyn, the median rental price was down 11.3 percent — to $2,700 — compared to June of 2020
On two-year leases, landlords may increase rent up to 2.5%.
A new rent assistance fund began accepting applications this month
The overall jump in expenses: 15%.
After months of record price cuts and concessions, New York City’s rental market appears to be turning the corner
Some listings are receiving multiple applications within 24 hours of hitting the market
Rentals are now moving, there’s a pent-up demand, buyers are coming up to seller’s price.
Bill would increase subsidies for homeless New Yorkers to federal levels
It’s not against the law for landlords to keep apartments vacant
Program will allocate $2.7B to tenants, landlords hit hard by pandemic
Five separate suits challenging the law’s constitutionality are still taking up space on court dockets.
New York’s rent relief site goes live — without applications New site has information on rental relief program
Mayor signs bill giving representation to all low-income renters facing eviction
State must offer funds directly to tenants if landlords choose not to participate in the program
New York landlords and tenants will gain access to $2.3 billion in federal aid allocated by the state.
Frustrated landlords demand Albany get rent aid out the door
Property owners testified at Rent Guidelines Board’s Thursday meeting
Tenants would have one-time option to extend leases up to a year
The extender bill is expected to go to a full vote in the Senate and Assembly later this week.
The market reached a new milestone in the first quarter of 2021, as NYC rents hit record lows
Eligible units are still outnumbered by Section 8 recipients
Small landlords in the NYC area to find out what this means for them.
Prices rising one year after pandemic hit, but don’t call it a full recovery yet.
Newly bill, would bar evictions and rent increases for one year in cases where landlords accept aid.
Landlords who charge more than one month’s rent for security at lease execution are taking a substantial risk.
During the pandemic, the difference between the median rent in the two boroughs nearly vanished.
Albany finally have the big bucks to pass a substantial relief program as part of the state budget
There are no easy options when it comes to collecting back rent these days, so landlords would be wise to […]
Second Round of Rent Relief Reached Even Fewer People Than First
Barely 1% of tenants owing rent have received aid in second round
Senate and Assembly released their one-house budget resolutions, providing a snapshot of each chamber’s priorities
Some of those property owners are turning down the funding that they’re eligible for
Judge says landlords have no constitutional right to “unregulated market”
The state legislature is set to extend the eviction moratorium on small businesses and landlords with fewer than 10 apartment […]
The shift in new lease signings seems to be happening quickly, especially for smaller units
Blanket moratorium on evictions is unconstitutional.
Thousands of small landlords who have had their finances fractured by a year of eviction moratoria
Tenants owe landlords $57 billion. What happens when they don’t pay?
Commercial real estate investors that can be accessed through state and local governments
Mom-and-pop landlords say they’re being chased out of New York City
Newly amended legislation would distribute $1.3B in federal funds.
Repeat of the foreclosure crisis with a disproportionate impact on Black and Hispanic landlords.
That’s a slight uptick from last month, when 76.6% of renters made a payment by the first week of the […]
Measure on accessory dwelling units comes with rent control
It’s been nearly a year since the start of the pandemic — and for some retailers, that means it’s been […]
Rising liability insurance costs, and delays in city approvals that are making it increasingly challenging to break even financially.
The share of the riskiest apartment debt held by banks rose to 17%
We look forward to restoring property rights to thousands of property owners
Biden is expected to move quickly to extend protections for renters, Bloomberg reported, and may sign an executive order within […]
Landlords in December continued to offer discounts not seen since the Great Recession
If a tenant files a Hardship Declaration with an Owner, the Owner cannot bring an eviction proceeding before May 1, […]
The ban on commercial evictions may continue through the spring, if Gov. Andrew Cuomo has his way.
Rents are in freefall and the vacancy rate hit an all-time high of 5 percent.
Cuomo had previously said he intended to extend existing legislation limiting evictions, portions of which were to expire at the […]
The pandemic devastated the housing industry this year, but there were a few flickers of life.
Move comes hours after governor says current regime will be extended
“We have this big coalition of organizations that are working to put pressure on the landlords directly to reduce the […]
Landlord groups say it’s a good start, but not enough
Holes in the federal aid package will hurt the industry starting next year
The government needs to step up and provide rental assistance to renters who cannot afford to pay, and give housing […]
Brooklyn, rents dropped 6.3% year over year, and the median asking rent was $2,400. After the 2008 financial crisis, rents […]
Her landlord told her the rent was increasing from $3,250 to $3,300. Knowing that it was a renter’s market, Knibbs […]
The median net effective rent in Brooklyn was $2,619, down 8 percent from $2,855 a year ago. Inventory also remained […]
$60M in funds will be returned to federal government if not used by Dec. 30 deadline
A federal relief package benefiting New York may not happen until February
Renters returned to Manhattan and Brooklyn in October—in a big way. Months of falling rents and rising concessions—spurred by a […]
Brooklyn saw a decline in both prices and inventory. The median rent fell 3% to $2,615 from $2,700 the month […]
More than 57,000 New Yorkers who didn’t meet the program’s requirements did not receive aid from the agency
NYCB execs say apartment vacancy rate is low; share price down 31 percent this year
The pandemic and subsequent shutdowns have dealt a serious blow to New York City landlords, sending vacancy rates soaring and […]
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 it’s worth going to extra lengths to find a financially qualified tenant.
Rents across the city continued their downward slide in September, and hundreds of frustrated landlords are feeling the crunch & […]
New Yorkers who left at the peak of the pandemic are starting to come back, lured by a range of […]
The law prohibited courts from issuing eviction warrants for unpaid rent that was due from the beginning of the crisis […]
Landlords explain why even affordable units are empty
To the dismay of landlords, tenants now have a seat at the table in the legal challenges to New York’s […]
Before the pandemic emptied the city, few lenders benefited from the heady local real estate market…
New York’s residential markets to a crisis: a decline in rents, largely in affordable multi-families with work-force tenants…
Almost 11 million households were behind on rent or mortgage payments during the first three months of the pandemic.
As the rate of new COVID-19 cases has slowed in New York City, relief from the city’s high rents has […]
Some multifamily owners have pegged occupancy rates at 90%, but a key index that tracks publicly traded landlords has fallen […]
New York’s rental housing providers have rounded on the Trump Administration after it introduced a new moratorium on…
No-fee listings made up 75 to 85 percent of all listings in Manhattan and Brooklyn in August, the New York…