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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 ever before. This would help landlords renovate and maintain these rent-stabilized apartments from future damage when another storm hits. Along with the hurricane the pandemic has set a lot of property owners back financially and fixing the damage from the storm would be even more detrimental to their financial situation. 

Commercial Rent Control:
The debate is still very much heated on this topic, a lot of people are speaking up about this matter especially now with the hearing scheduled for today. The City has published an article on store owner Natasha Amott. She mentions the ups and downs of owning a business. She's had to relocate a few times due to the rise in rent. With the rent decline due to Covid she is looking at other rental spaces but brokers say that by 2024 rent will be much higher. Despite the reopening of the city, the number of vacant stores is growing. If the bill were to pass, lawyers would most likely challenge it, they would argue that the city does not have the power to regulate rent. Rent control in residential buildings are regulated by state legislation. More updates to come after today's hearing. 

More on The Eviction Moratorium:
According to an article posted by The Slate, the government can't stop evictions if they are not prepared to pay the people's rent. This was a way of saying that if the government wants the people to trust and accept this new moratorium the money needs to start rolling out. The Slate attacks the credibility of the program to show that “trust” is earned, the lack of trust is due to the fact that  funds have been distributed super slowly. In this case the only people in mind are the renters, paying no attention to the landlords who have suffered during this pandemic with the amount of arrears their tenants have created. There are stats that show states in which funds have been distributed the number of eviction proceedings have dropped but in states where the funds have not been distributed the number of eviction proceedings are still growing. Keep up NY. We'll keep you updated on this matter. 

In other rent related news, a Federal Judge has dismissed two cases that were challenging the 2019 rent laws. According to the Daily News the plaintiffs failed to provide evidence as to their impairment as a result of the rent regulation reform and did not actually say that those laws harmed them. These vague assumptions offered little analysis of the law and in some cases were backed up by the Wall Street Journal instead of legal precedent.

You Can’t Stop Evictions if You Don’t Pay People’s Rent
#lawyers #tax #law #business #property #people #money #power #help #legal #future

About the Author

Jordan Tapia

Phone: (212) 566-6780 Email: [email protected] Jordan Tapia, a partner at our law firm, is known as a fierce litigator. She has successfully represented various small businesses facing eviction and has helped many come to an amicable resolution with their landlord, often avoiding litigati...

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