NYC adopts 3 new protections aimed at protecting Tenants from Landlord Buyout offers
For decades, landlords in NYC have been offering tenants buyout offers to hope they will willingly vacate their rental units. These offers are typically aimed at tenants who reside in rent-controlled or rent-stabilized units where there is a market for the landlord to charge much higher rents. The only problem is, they need the current
Landlord Buyouts: What to do when the Tenant says “no”
In New York City’s hot real estate market, some landlords dream of a new building, higher rental rates to boost profits, or simply to better cover building expenses. Buyouts are sometimes the only practical way to make these changes happen, but what happens when you make an offer and the tenant says No? Contact Brasch
Who are the primary targets for Tenant Buyouts?
If you live in New York City, you’ve heard of, or perhaps even been part of, a tenant buyout. A tenant buyout situation exists when a landlord offers a tenant a cash payment to move out of their rent-stabilized or rent-controlled apartment. The motivations behind these offers usually have to do with the landlord trying
Buyouts as a method of Tenant harassment
If you are a tenant who is the subject of repeated buyout offers from your landlord, Mayor de Blasio’s signature on new legislation, making such actions illegal, should be a source of relief. In September 2015, the mayor signed legislation that provides three different measures of protection for tenants, in relation to buyout offers: It
Rent Regulation in New York – the New Provisions
2015 saw marked changes in New York’s rent regulation laws. Although many landlords hoped The Rent Act of 2015 would simply be an extension of the then-current laws, legislators took this opportunity to strengthen tenant protections. The Rent Act of 2015 extends current rent laws for four more years, through June 2019, and included a
Why Tenants hold out on Landlords offering Buyouts
A landlord buyout may sound like a dream come true to many renters, but in NYC it’s not unusual for landlords to be met with a resounding “No” when they make a buyout offer. The reasons why tenants decline buyouts are as varied as the tenants themselves, but in almost all cases their reasoning comes
Buyouts between Landlords and Tenants in New York
Buyouts between tenants and landlords in NYC seem to always be in the news. Buyouts are a common tactic of landlords to obtain possession of units in their buildings with the hope of renting them for a higher price or selling them. This is mostly due to the New York City’s rent regulations, which limits
6 ways to protect yourself against ruthless and greedy Landlords
If you are fortunate enough to have a good relationship with a responsive landlord, consider yourself lucky. It’s rare to hear about good tenant-landlord relationships, especially in high-demand areas such as NYC. More commonly, landlords are focused on getting the most rent possible for the least amount of service. Protecting yourself from ruthless, greedy landlords
How much should a Landlord pay a Tenant to move out of an apartment?
Rent Stabilized and Rent-Controlled apartments are highly coveted in NYC. Tenants save a great deal of money living in these units and landlords are constantly looking for ways to move tenants out. Landlords who are serious about this often approach tenants with buyout offers. A buyout can be good for both tenants and landlords
