Local Law 153 of 2016 In Effect June 4th

Local Law 153 of 2016 will go into effect on June 4th. Property owners are now required to provide tenants with a notice regarding procedures that should be followed when a gas leak is suspected. In order to comply with this new law, owners must: provide such notice to each tenant and prospective tenant with the lease or lease...

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MCI Abatement Changes Affecting Co-ops and Condos

When the NYS legislature renewed rent regulations effective July 2015, there were some significant changes that affect co-ops and condos. If a co-op/condo has an unsold share holding with one or more rent controlled and/or rent stabilized apartments, and the Holder of Unsold Shares obtains an MCI rent increase order, now there is a...

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Courses to Improve Energy Efficiency

The NYC Retrofit Accelerator is offering a series of hands-on training courses to improve the energy efficiency of your building(s). Individual courses will include: Heating and Air Sealing, Water Conservation and Plumbing, and Energy Efficiency Electrical. These courses will show you how to diagnose efficiency challenges, implement...

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REVERSE MORTGAGE UPDATE

Our heartfelt thanks to all of you who responded to our call for messages to your state Assembly representatives to ask for their support of Jeff Dinowitz’s bill that would have brought us a significant step closer to reverse mortgage availability for seniors in housing cooperatives. The legislative session ended without passage...

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YOUR HELP URGENTLY NEEDED: ASK YOUR ASSEMBLY MEMBER TO SUPPORT REVERSE MORTGAGES IN CO-OPS

Legislation that would allow Reverse Mortgages for seniors 70 and over who make their homes in cooperatives has passed the New York State Senate and has been introduced in the Assembly. If passed this would open the door for lenders not interested in FHA to begin to make reverse mortgage loans in NY State (despite 16 years of...

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