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Across New York City’s five boroughs in 2023, rent rates grew an average of 8.6 percent compared to just 1.2 percent for wages — the largest gap among the country’s 50 biggest metropolitan ...
Many arrests and evictions. The 1918-1920 New York City rent strikes were some of the most significant tenant mobilizations against landlords in New York City history. [2] Prior to the strikes, a housing shortage caused by World War I exacerbated tenant conditions, with the construction industry being redirected to war time efforts.
Estoppel certificate. An Estoppel Certificate (or Estoppel Letter) is a document commonly used in due diligence in real estate and mortgage activities. It is based on estoppel, the legal principle that prevents or estops someone from claiming a change in the agreement later on. [1] It is used in a variety of countries for commercial and ...
Many landlords would rent office space to small companies or start-ups. If those companies got into financial trouble, they would fail to make payments on the property but refuse to give up the space, forcing the property owners to go through the process of eviction. This led to the demand, and creation of the Good Guy Clause. Description
Rental prices that soared to record highs just a few months ago are now heading in the other direction as inflation, economic uncertainty and falling demand have finally caught up with the market
Rent regulation in New York is a means of limiting the amount of rent charged on dwellings. Rent control and rent stabilization are two programs used in parts of New York state (and other jurisdictions). In addition to controlling rent, the system also prescribes rights and obligations for tenants and landlords. [1]
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