February 10, 2016 Single-room occupancy housing, or more commonly called SROs, exist throughout New York City. When purchasing such a dwelling without the proper paperwork, you will not be able to obtain a permit to do renovations, a buyer cannot evict the residents who are rent-regulated tenants, and the owner may be required to maintain Full Article…
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Seven Secrets to Drafting An Effective Commercial Lease Default Lease
An effective commercial lease will dictate the future relationship between a commercial landlord and tenant. The more clauses forcing the commercial tenant to comply with its obligations, the better chance the landlord will have in not only have a successful relationship but also ensuring that the rent is paid and the tenant behaves. Below are Full Article…
Use Six Arguments to Beat Sanitation Violations
One big headache for many owners is getting hit with violations from the city’s Department of Sanitation (DOS). These violations include not keeping the sidewalk in front of your building clean, not sweeping 18 inches into the street, and not properly maintaining garbage receptacles. And now that DOS has raised the minimum base fine for Full Article…
Using a License Agreement Instead of a Lease
By Adam Leitman Bailey and John M. Desiderio A number of years ago, I sat down with one of the New York’s real estate legends and his company’s general counsel. He was bothered by New York’s eviction process — the loss of rental income, the wasted legal fees, and the incredible amount of time between Full Article…
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