Monthly Archives: November 2017

The Real Worst Landlord

The biggest scofflaw and tenant harasser in New York is, once again, the City Housing Authority. Late last week it was revealed that the Authority sent 1400 tenants mistaken eviction notices, and this week the Department of Investigation revealed that … Continue reading

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Preferential Rent Requirements

Legal rents must be shown in all renewals of preferential leases, according to an updated Fact Sheet quietly released by DHCR last week. The Fact Sheet also outlines the changes to vacancy allowances after a preferential lease per the Rent Act of … Continue reading

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Reform For Some

The House Tax Reform Bill introduced yesterday limits the home mortgage interest deduction to mortgages under $500,000 and the state and local tax deduction to $10,000 in property taxes. It preserves 1031 exchanges and the Low Income Housing Tax Credit, but eliminates the Private Activity Bond … Continue reading

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2.2% Solution

The State Division of Housing and Community Renewal this week issued Policy Statement 2017-2 “Collectibility of 421-a Tax Benefit/2.2% Surcharges for Market Rate Units” which states for the first time that the 2.2% annual surcharge on 421-a units is not applicable to … Continue reading

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