Entries by Stephen M. Lasser

Battle Between NYC and Airbnb Resumes

Since 2010, renting out apartments in multiple dwelling for a term less than 30 days has been illegal in New York State under § 4 of the New York Multiple Dwelling Law (the “N.Y. Mult. Dwell. Law”).  As discussed in our December 20, 2016 post “Airbnb Settles with New York State: New Developments in Short-Term, […]

Protecting Commercial Landlords Before and After Tenant Bankruptcies

An issue that commercial landlords frequently have to address is tenants falling behind in their rent payments and then filing for bankruptcy protection.  Once a tenant declares bankruptcy, an “automatic stay” goes into effect, which makes it illegal for the landlord to pursue eviction and collection efforts against the tenant except through the channels available […]

Law Requiring Notice of Interested Transactions Amended to Cover Condominium Boards

As you may recall from one of our previous newsletters, a new New York State law was enacted, effective January 1, 2018, which requires cooperative board members involved in interested transactions to provide disclosure of these transactions to the owners in their associations. (Here is a link to the previous newsletter https://lasserlg.com/new-disclosure-requirements-board-members/ ) On April […]

Unpaid Condo Common Charges on Credit Reports

Approximately one year ago, a data aggregation company based in California named Sperlonga entered into an agreement to start providing condominium and HOA owner payment and account status data to the credit reporting company Equifax.  It is our understanding that Sperlonga charges a monthly flat fee to the condominium or HOA for this service or […]

Late Payment of Common Charge Fees by Delinquent Unit Owner Deemed to Be an Admission of Liability: Condo Board Entitled to Recover Late Fees and Legal Fees

Landlords and condominium boards frequently have to sue tenants and unit owners who fail to pay their rent or common charges in a timely manner.  This is an unfortunate fact of life in the real estate world.  In these situations, courts have typically been very stingy when awarding late fees or legal fees to the […]

Payment Required to Enter Your Neighbor’s Property: New Case Law Precedent Established

More and more buildings are added to New York’s skyline each year.  Frequently, it is impossible for a new construction project or building-wide gut rehabilitation to be completed without the owner who is performing the construction entering upon an adjoining owner’s property.  New York has had a statute in effect since 1968, which addresses the […]

Airbnb Settles with New York State : New Developments in Short-Term Rental Law

Airbnb is a global technology company with huge revenues that facilitates apartment rentals by owners and tenants to third parties, often tourists, on a short-term basis.  Airbnb reached a settlement with New York State earlier this month, which dropped the lawsuit Airbnb brought challenging a new law that went into effect in October 2016, which […]

Commercial Leasing and the “Good Guy” Guaranty

Like other business negotiations, commercial lease negotiations depend on market conditions and the bargaining strength of the parties to the transaction (i.e., the landlord and tenant). Unless a commercial tenant is a bank or fortune 500 company, most landlords require new tenants signing a lease to deposit a sum of money equal to several months […]