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Illegal Lofts In New York City: Have The Equities Been Balanced, Jay Facciolo
Illegal Lofts In New York City: Have The Equities Been Balanced, Jay Facciolo
Fordham Urban Law Journal
In New York City today, tens of thousands of people,' primarily tenants, are illegally occupying lofts. These tenants have signed commercial leases, often long-term leases at rents far below the current market rate. The changing economics of loft buildings has led to serious conflicts between landlords and tenants. Landlords have sought to evict tenants before their leases expire, refused to renew their leases or demanded higher rental rates upon renewal. Tenants have withheld rent for extended periods. These conflicts have been taken to the courts, and legislation recently enacted in New York State attempts to resolve these issues for at …
Emergency Tenant Protection In New York: Ten Years Of Rent Stabilization, Diane Ungar
Emergency Tenant Protection In New York: Ten Years Of Rent Stabilization, Diane Ungar
Fordham Urban Law Journal
New York City's rent stabilization system was designed as an alternative to the rent control system. Rent stabilization looked to the owners for supervision as a way to benefit not only the system but tenants through an informed and experienced administration. Unfortunately, the system has had its fair share of shortcomings as rules have become technical, complex, and ill equipped to address the concerns of tenants. This comment examines the stabilization system's history and its current status. Though the current system has flaws, the flaws can be fixed and must be to protect NYC tenants and owners.