New York State’s legislature is currently reviewing a bill referred to as the “Good Cause Eviction.” The proposed legislation presents significant changes that could impact property owners throughout New York State.
If passed and signed into law, the Good Cause Eviction legislation would limit rent increases to 3 percent or 1.5 times the Consumer Price Index, which ever is higher. In addition, the law would change the criteria and legal process for evictions.
Many questions and concerns have been raised regarding the potential widespread consequences of the Good Cause Eviction law. During the next Real Estate Roundtable, Jaime Michelle Cain will explore details of the Good Cause Eviction legislation and review how property owners can address the proposed law.
The next Real Estate Roundtable virtual event will take place on Wednesday, March 2nd at 2:00 PM.
Good Cause Eviction topics that will be addressed during the March 2nd Real Estate Roundtable include:
- What is New York State’s proposed Good Cause Eviction law?
- How will the passage of the Good Cause Eviction effect landlords’ ability to increase rent?
- What impact would the Good Cause Eviction legislation have on terms set in existing leases?
- Will the legal process for evictions change if the Good Cause Eviction law is passed?
- What can be done to express concerns to state legislators regarding the Good Cause Eviction legislation?