Since this agreement has gone public on Tuesday night, there has been a flurry of activity within landlord groups, the Real Estate Board of New York, and ten advocacy groups. It looks like this agreement is going to get signed on Saturday specifically for rentals. We specialize in Upper Manhattan, so we deal with many rent-stabilized units in areas like Harlem, Washington Heights, Inwood, and East Harlem. This proposed legislation has the potential to be like a bomb exploding in our industry. Many landlords today are very anxious about what this legislation means, and they want to wrap up leases that we currently have outstanding before it potentially gets signed into law on Saturday. Therefore, there is a big push to get these leases signed, countersigned, and considered effective moving forward. Anything that happens next week would fall under this new law because it is effective immediately. We are already in an incentive-heavy market, with landlords offering months of free rent as a concession and offering to pay the broker's fee instead of collecting it from the tenant. These deals are being made to make rentals more attractive. In the next couple of days, some owners are even offering three or four months of free rent. In one case, we have an owner offering five months of free rent and an additional month without payment. This is especially an enticing deal for people who plan to only stay in the city for two or three years. There are people who will take advantage of these opportunities, and landlords are pushing us to find these individuals who would like to sign a lease within the next two days. However, nobody disputes that there is a fundamental lack of affordable housing in this city. It is a significant problem. However, this legislation is not the...
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Dhcr s Form: What You Should Know
If applicable, agent name, if any), if any.) (First name, full address, (If applicable, if any), telephone number(s) listed on the Notice of Default) (First name, full address, and name.) (Last name, full address.) (Full name of authorized person(s).) The DCR Administrator or his/her designee shall consider the petition for Administrative Review(PAR) from the Petition Verification Form, issued by the Division of Housing and Community Renewal (DCR), prior to issuing an Order of a Rent Stabilization. The order of rent stabilization shall be dated within 30 days of the receipt of the DCR petition (whether the form is filed). The Order of rent stabilization shall order the landlord or his/her agent to: (1) make specified rent payments; and (2) perform specified services as defined by the Rent Code as long as those specified services are maintained in compliance with the Rent Stabilization Ordinance. In addition, the rent increase shall not exceed one percent of the current rent for each of the 12-month periods immediately preceding the petition(s), as provided in § 5-120 of the Rent Stabilization Ordinance. The Order of rent stabilization shall be effective as of the date of its filing with the DCR Administrator or his/her designee. The landlord or his/her agent shall have up to 30 days within which to file a petition in lieu of an Order of rent stabilization. The petition(s) filed by a landlord shall be filed with the DCR Administrator or his/her designee within 15 days of the date of the Order of rent stabilization.
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