As many of you have no doubt read, new laws were enacted on June 14, 2019, that will have a major impact on landlord and tenant law, housing court (residential and commercial parts), cooperative and condominium conversions. (Related topics: landlord-tenant law NYC, tenant lawyer New York, real estate lawyer NYC)
Below is the fourth part of my four-part synthesis of the 145-page bill that passed. If you want to discuss this with me, you can email, call or write me, I will answer your questions.
The new legislation is called the Statewide Housing Security and Tenant Protection Act of 2019 but don’t let the name fool you. The reforms impact residential and commercial landlords.
Under the new RPL § 226-c a landlord of residential property must give 30, 60- or 90-days’ notice of intention to terminate a month-to-month tenancy to be served by a process server. The amount of notice depends upon the longevity of the tenancy: less than one year then 30 days’ notice; more than one year but less than two years then 60 days’ notice; more than two years then 90 days’ notice.
And for residential tenants who have vacated their premises before expiration of the lease, the new statute requires the landlord to make good faith attempts to re-rent the premises and thus mitigate landlord’s damages. Not so with commercial premises. There is no obligation for a landlord of commercial premises to mitigate damages. However, practicality generally dictates re-rental for a commercial landlord as quickly as possible.
The new law places the burden of proof on the landlord; the party claiming damages. It is for the court to determine whether or not the landlord acted in good faith.
In light of the new rent laws, the need for a landlord to have an aggressive, knowledgeable attorney is of paramount importance. Not doing so will negatively affect a landlord’s bottom line. Contact Gary J. Wachtel now or call today at (212) 371-6500 and let me assist you.