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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]
Landlords might require tenants to carry a policy that includes a specific amount of liability insurance, while leaving the amount of personal property coverage to the tenant.
The Emergency Tenant Protection Act of 1974 (ETPA) expanded rent stabilization to other parts of New York State. [ 24 ] The Local Law 30 of 1970 introduced a new method of rent control price calculation, based on the Maximum Base Rate, which adapted to the changing costs faced by landlords, allowing them to pass those costs on to renters.
Reduces liability risk for landlords: Renters insurance includes liability coverage that protects the tenant if someone is injured in the rental unit. This reduces the likelihood of the landlord ...
Many large and medium-sized rental properties include a requirement in their lease that tenants hold renters' insurance. [2] If the tenant damages the premises, [3] the landlord and other tenants can recover against the perpetrator's insurance. It is important to know what type of damage your insurance covers. Essentially, there are three types ...
Bankrate utilizes Quadrant Information Services to analyze April 2024 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Rates are weighted based on the population density ...
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