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Article 7-C of the New York Multiple Dwelling Law, commonly known as the 1982 Loft Law, was designed to protect the residential tenants of certain former commercial buildings in New York City from substandard conditions, eviction, and unfair rent increases.
This rapid increase in rents caused New York to pass the Rent Stabilization Law of 1969, which introduced rent stabilization to units built after the 1947 cutoff for buildings to be eligible for rent control, covering approximately 325,000 units in New York City. [23] The Emergency Tenant Protection Act of 1974 (ETPA) expanded rent ...
After the 2018 elections – in which Democrats took control of the New York State Senate for the first time in a decade and just the third time in 50 years [2] – momentum began on behalf of changes to landlord-tenant law. [3] [4] Eventually, a package of nine bills emerged which incorporated a large number of proposed changes. [5]
Renters insurance primarily protects the tenant’s personal belongings and liability, not the landlord’s property. If a tenant accidentally damages the landlord’s property, such as breaking a ...
In the event of a fire, your landlord would likely have a policy to cover their building and lost rental income, but you would be responsible for replacing any of your damaged or destroyed ...
Under this arrangement, landlords directly benefit from a tenant’s success, as higher sales lead to higher rent payments. When a restaurant struggles and fails to pay its rent, the landlord’s ...
Renters' insurance, often called tenants' insurance, is an insurance policy that provides some of the benefits of homeowners' insurance, but does not include coverage for the dwelling, or structure, with the exception of small alterations that a tenant makes to the structure.
The insurance scene is changing, and property insurers are either capping the number of policies they write, are stricter in underwriting, are refusing to write new policies altogether, are ...