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Happy Wednesday!

Posted by Jordan Tapia | Oct 27, 2021 | 0 Comments

The latest on ERAP and LRAP:The issue is still the same, the program is out of funds and according to a survey done by CHIP about 200,000 renters have not applied for the program. Although some might not be eligible for ERAP, CHIP still urges renters to apply. As for LRAP the state has also under...

Good afternoon!

Posted by Jordan Tapia | Oct 26, 2021 | 0 Comments

  On this rainy Tuesday we have come to report that Governor Kathy Hochul recently signed a bill declaring that a rent stabilized lease is a public benefit that is exempt from the reach of bankruptcy court proceedings. This decision was handed down in the Santiago v. Monteverde case wh...

Happy Monday!

Posted by Jordan Tapia | Oct 25, 2021 | 0 Comments

  Let's talk more about ERAP. According to CHIP's latest survey only 44% of renters with arrears applied for the program. CHIP estimates that the program will need at least $2 billion more in funds. Although the question still is how to get this fund, CHIP is working hard to figure it ...

ERAP Is Out Of Funds?

Posted by Jordan Tapia | Oct 20, 2021 | 0 Comments

CHIP has notified us that OTDA will announce later this week that all of the ERAP funds and LRAP funds have been distributed and although they will keep accepting applications they have no solution to this dilemma. Newsday posted an article stating that about 27,000 Long Islanders are behind on r...

Housing Vouchers

Posted by Jordan Tapia | Oct 12, 2021 | 0 Comments

  According to CHIP many are considering passing the Good Cause Eviction, which is basically universal rent control. CHIP believes that the reason for this is to pressure the State Legislature to pass S3082/A5573 which is a statewide Good Cause Eviction bill that would cap residential ...

45 Days Already?

Posted by Jordan Tapia | Oct 12, 2021 | 0 Comments

  Governor Kathy Hochul talked about her first 45 days in office. Her main priorities for these first 45 days were to combat COVID-19, getting aid to New Yorkers and changing the culture in Albany. In the fight to combat COVID-19 she released a nationwide health care vaccine mandate for wo...

New Landlord Rental Assistance Program!

Posted by Jordan Tapia | Oct 08, 2021 | 0 Comments

The new Landlord Rent Assistance Program (LRAP) was launched yesterday. The program has a fund of $125 million. This will go towards property owners where tenants vacated the apartment during the COVID-19 pandemic and is still owing rent. Landlords can also apply in place of tenants who refuse to...

Where Is The Eviction Tsunami?

Posted by Jordan Tapia | Oct 07, 2021 | 0 Comments

According to an update sent out by CHIP yesterday, The Real Deal published an article talking about New York City's rent-stabilized housing market. They focused on how most of these buildings are declining in value and therefore were bad investments. They also speculated as to why investors are...

CDC Became America's Landlord?

Posted by Jordan Tapia | Oct 05, 2021 | 0 Comments

Reason Magazine has come out with a detailed story about how the Centers for Disease Control and Prevention became America's landlord, and did a bad job. What was supposed to be something temporary became more and more permanent over time. The eviction moratorium was a way for tenants not to get ...

Decline In Affordable Housing?

Posted by Jordan Tapia | Oct 04, 2021 | 0 Comments

CHIP and some other real estate industry groups had a meeting with OTDA. In the meeting CHIP discovered that OTDA has not sent out any 180- day notices to property owners who have yet to accept or complete the CERAP application. This is the opposite of what we heard a few weeks ago, landlords wou...

Eviction tsunami

Posted by Jordan Tapia | Sep 30, 2021 | 0 Comments

According to a recent post by The Washington Post, experts are conflicted as to why evictions did not happen once the moratorium was struck down. CHIP argues that evictions did not happen simply because it is not in the landlords best interest to actually evict tenants. In addition to that, court...

CERAP Next Steps and New Health Code

Posted by Jordan Tapia | Sep 29, 2021 | 0 Comments

  According to CHIP the fight is still on to get more funds approved for the COVID-19 Emergency Assistance Program. Although a lot of people are advocating and asking for help there has been no update or response as to if the program will receive more funding. CHIP is still suggesting landlord...

OTDA Update!

Posted by Jordan Tapia | Sep 24, 2021 | 0 Comments

Happy Friday Yesterday CHIP released another update. CHIP mentioned that OTDA will be taking back CERAP funds if the recipient owners cannot be contacted in six months. CHIP argues that this is an extreme action given the fact that OTDA does not do enough to actually reach out to the property ...

Happy Tuesday!

Posted by Jordan Tapia | Sep 21, 2021 | 0 Comments

  According to CHIPs recent update, the OTDA released a “Notice of Overpayment” they are urging owners not to deposit checks and to return them back to OTDA. If you have deposited it or received direct deposit you are to write a check and send it back. CHIP is trying to learn more about th...

Happy Friday!

Posted by Jordan Tapia | Sep 17, 2021 | 0 Comments

We have a couple of updates for you today!First off, CHIP has called on the City Council to reauthorize the J-51 tax abatement program. Although the program expired last year, CHIP is arguing that due to the storm damage that Hurricane Ida left the tax abatement would be more important now than e...

Tax Lien Sale Returns?

Posted by Jordan Tapia | Sep 16, 2021 | 0 Comments

NY Is #1 In Distributing ERAP Funds? In a recent update from CHIP it states that NY is now #1 in rolling out funds and approvals for the rental assistance program. Although a little less than half of the funds have been distributed, NY still sees this as a win. OTDA also announced that the por...

CONH Pilot Program and Commercial Rent Control:

Posted by Jordan Tapia | Sep 15, 2021 | 0 Comments

On Monday the New York Housing Preservation and Development added rules changing the Certificate of No Harassment Pilot Program. The number of buildings covered by the program is said to increase including the neighborhoods where there is a high chance of displacement. It will also compensate t...

Putting An End To Rent Control?

Posted by Jordan Tapia | Sep 15, 2021 | 0 Comments

Landlord representatives such as CHIP and RSA are suing New York over rent control laws. They are arguing that the law is an unconstitutional violation of the fifth amendment, it forces landlords to continue to have underpaying and non-paying tenants. Another argument includes the economic impact...

CALIFORNIA MAY NOT BE EXTENDING THE EVICTIOIN MORATORUIM:

Posted by Jordan Tapia | Sep 13, 2021 | 0 Comments

The State of California has a moratorium put in place until the end of September. It seems as though they will not be voting to extend it. They say there is no “political appetite” to extend this matter. Like New York there is a great amount of protection put in place to protect renters. The emer...

New Moratorium!

Posted by Jordan Tapia | Sep 02, 2021 | 0 Comments

For those of you up to date on our posts, we mentioned that the State Legislature was going to reconvene on Wednesday, September 1st, in Albany to pass a new eviction moratorium. Although the bill may be further amended before passing, CEEFPA and CEPOSBA protections are extended through January 1...

Once Again

Posted by Jordan Tapia | Aug 31, 2021 | 0 Comments

Yesterday on CHIPs daily update, it suggests that the State Legislature is going to reconvene on Wednesday to pass a new eviction moratorium. This new law would last until January 15, 2022. It would also comply with the Supreme Court ruling that shut down the last moratorium. This moratorium woul...

Landlords Facing Homelessness

Posted by Jordan Tapia | Aug 30, 2021 | 0 Comments

It is no surprise that landlords are facing homelessness due to not receiving rent payment. Brandi LaCasse is a prime example of this. She owns three properties in upstate New York and is owed more than $23,000. Due to not being able to evict her tenants because of the eviction moratorium, LaCass...

New Beginnings!

Posted by Jordan Tapia | Aug 25, 2021 | 0 Comments

Kathy Hochul is now the 57th Governor of New York. Yesterday she had her swearing in ceremony and her inaugural address. She talks about how she intends to combate covid, bring kids and staff back safely to schools and the distribution of the ERAP money. Getting a group of people together to make...

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