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The hefty one-time payments, known as broker fees, are ubiquitous in New York but nearly unheard of anywhere else. In most other cities, landlords cover the commission of agents working on their ...
Common area maintenance charges (CAM) are one of the net charges billed to tenants in a commercial triple net (NNN) lease, and are paid by tenants to the landlord of a commercial property. A CAM charge is an additional rent, charged on top of base rent, and is mainly composed of maintenance fees for work performed on the common area of a property
Mandatory broker fees, an unusual feature of New York City apartment hunting long reviled by renters, will be banned under legislation that passed Wednesday after overcoming fierce backlash from ...
In 1981, The New York Times cited that "city housing officials estimate that 300-some buildings" were in the program. [ 1 ] While a building is under 7A, since "rents are going toward repairs, landlords must make tax and mortgage payments from other income during this period."
With the passing of the New York's Housing Stability and Tenant Protection Act of 2019, landlords are no longer able to legally increase rent upon vacancy in rent stabilized units; previously, landlords were legally allowed to raise rents up to 20% between tenants to recoup construction cost.
The newest New York State anti-eviction laws brought much needed relief to tenants shell-shocked by financial hardships wrought by COVID, but some mom-and-pop landlords worry those measures may ...