BLOG / 07.15.19 /Kenneth R. Jacobs
How the “Tenant Protection Act” Affects Co-ops and Condos: Limits on Late Fees; Recovery of Expenses in Evictions; Timetables to Cure Defaults; Ban on Escrows for Maintenance; Limits on Application Fees Charged by Managing Agents
The newly passed “Housing Stability and Tenant Protection Act of 2019” (the “ TP Act ”) makes sweeping changes expanding tenant rights in rental apartment buildings. However, since Co-op corporations also have a landlord-tenant relationship with their shareholders, many of these changes will significantly affect enforcement of the Cooperative’s rights as well. 1. TP Act …
BLOG / 07.12.19 /Kenneth R. Jacobs
Legislative Update: “Prevailing Wages” Required to Receive Co-op/Condo Tax Abatements; Mandatory Garage Inspections
Most of our attention has been focused on the effects of the newly passed “Housing Stability and Tenant Protection Act of 2019” (the “ TP Act ”) on rental apartment buildings. However, several other recently enacted state and local laws also affect cooperatives and condominiums in New York City and the surrounding counties. 1. “Prevailing …
BLOG / 03.21.19 /Jack Malley
On March 14, 2019, the U.S. Department of Labor (the “U.S. DOL”) issued an opinion that resolves a conflict between federal law and the New York Department of Labor Building Service Industry Minimum Wage Order (the “NY Wage Order”). Although U.S. DOL opinion letters are not binding law that courts must follow, courts often give great weight to the guidance set forth in them, and employers can rely on such guidance as a good faith defense to a wage claim arising under the Fair Labor Standards Act (the “FLSA”).