The Redeveloper

Just another WordPress site

Is a Form of Rent Control Coming To New York City’s Commercial Spaces?

October 12, 2018 | 18 Comments
Posted by Donna A. McBarron

Commercial landlords and tenants should be aware of a bill that could significantly impact the commercial leasing landscape in New York City.  This proposal, named the Small Business Jobs Survival Act (“Act”), would require all commercial landlords to negotiate a new 10-year lease with a tenant whose lease expires on or after January 1, 2019.  Although there are limited exceptions, such as where the tenant is performing an illegal activity on the premises or has failed to pay rent three times after written notice and a 30-day period to cure, this essentially means that all commercial tenants will have the right to renew their leases even if the lease does not give them the express right to do so.  Such a requirement means that landlords lose their ability to free themselves of tenants who, for example, may pay their rent and may not be breaking any laws, but who have otherwise been an undesirable tenant.

In its present form, the bill would require a landlord to notify the tenant at least 180 days prior to the expiration of the lease of the landlord’s willingness to renegotiate a renewal.  The first 90 days is allotted for negotiation, and either party may compel the other to use mediation during that time.  If unsuccessful, the matter is then referred to the American Arbitration Association which then determines the rent.  In addition to the added costs involved in the mediation/arbitration process and losing the ability to fix their own rent, landlords also lose their flexibility in lining up new tenants for the space while they await that process to unfold.

The bill also prevents landlords from retaliating against tenants who exercise their rights under the Act, and could subject landlords to actual and punitive damages, injunctive relief and attorney’s fees.

Finally, the bill caps a commercial security deposit at two months’ rent, once again limiting one of the significant ways in which a landlord can protect itself.

A public hearing is scheduled for October 22, 2018.  Whether the bill is signed into law in this form, or some other form, remains to be seen.

Comments

18 Responses to “Is a Form of Rent Control Coming To New York City’s Commercial Spaces?”

  1. 먹튀다자바
    May 21st, 2023 @ 12:12 pm

    Very good write-up. I certainly appreciate this site. Continue the good work!

    Feel free to visit my blog post – 먹튀다자바

  2. sbobet88.co.com
    May 21st, 2023 @ 3:52 pm

    Hello I am so grateful I found your webpage, I really found you by mistake, while I was researching on Digg for something else, Regardless
    I am here now and would just like to say cheers for a fantastic post and
    a all round thrilling blog (I also love the theme/design), I don’t have time
    to look over it all at the minute but I have bookmarked
    it and also included your RSS feeds, so when I have time I will be back to
    read a lot more, Please do keep up the superb b.

  3. 먹튀
    May 21st, 2023 @ 7:23 pm

    I every time emailed this website post page to all
    my friends, as if like to read it afterward my links will too.

    Also visit my website 먹튀

  4. togel online
    May 21st, 2023 @ 11:08 pm

    Thanks for the auspicious writeup. It in fact was a enjoyment account it.
    Look complex to far introduced agreeable from you! By the way,
    how can we keep in touch?

    Here is my webpage – togel online

  5. fafaslot
    May 21st, 2023 @ 11:36 pm

    We are a group of volunteers and starting a new scheme
    in our community. Your website provided us with valuable information to work on.
    You’ve done a formidable job and our whole community will
    be grateful to you.

  6. 구글상위노출교육
    May 22nd, 2023 @ 4:53 pm

    I love what you guys are up too. This kind of clever work and exposure!
    Keep up the great works guys I’ve added you guys to our blogroll.

    My website … 구글상위노출교육

  7. gate io vip 1 olmak
    May 22nd, 2023 @ 11:32 pm

    I am a student of BAK College. The recent paper competition gave me a lot of headaches, and I checked a lot of information. Finally, after reading your article, it suddenly dawned on me that I can still have such an idea. grateful. But I still have some questions, hope you can help me.

  8. 먹튀검증사이트
    May 23rd, 2023 @ 9:01 pm

    Fantastic items from you, man. I have be mindful your stuff prior to and you are just
    extremely wonderful. I actually like what you’ve got right here, certainly like what you’re stating and
    the way wherein you say it. You make it enjoyable and you still take care of to stay
    it wise. I cant wait to learn far more from you. This is
    actually a wonderful website.

    Feel free to surf to my web page … 먹튀검증사이트

  9. ebola virus
    May 24th, 2023 @ 2:41 pm

    The Biden administration will quickly release a roadmap to transition the US out of the Covid-19
    public well being emergency, sources say. The objective of the expected roadmap,
    one source mentioned, is to strive to lay out for the public in a clear way what the
    end of the declaration “does and does not mean,”
    in addition to presumably provide steerage on masking and testing.
    In his State of the Union handle on Tuesday, President Joe Biden mentioned the US has “broken Covid’s grip” on the nation. Covid deaths are down almost 90%.
    Because the administration aims to turn the web page on the pandemic,
    officials are investigating how at the least $191 billion in pandemic unemployment advantages might have been improperly
    paid. Russia has probably misplaced as much as half of its operational tank fleet since the start
    of the Ukraine battle — or about 1,500 tanks — in accordance with info collected
    by Oryx, a monitoring group that has been collecting visible evidence of navy tools
    losses in Ukraine since Russia’s invasion began. Tanks have been a serious focus of the conflict and are seen as key for both country to take territory on the battlefield.
    The total determine for Russia’s gear losses — together with tanks and other
    preventing autos — is nearly 9,100, Oryx says, whereas
    Ukraine’s complete gear losses stand at about 2,900.
    While Kyiv has acquired pledges of trendy tanks from Germany,
    the US, Britain and different Western partners,
    Ukrainian President Volodymyr Zelensky at this time reiterated his plea to the West for extra
    weapons. A day earlier than the suspected Chinese language
    spy balloon entered US airspace over Alaska, the Protection Intelligence Agency quietly sent an inner report that a international object was headed in the direction of US territory, officials instructed CNN.
    The report was shared via classified channels accessible throughout the US government.
    However it wasn’t flagged as an urgent warning and high defense
    and intelligence officials who saw it weren’t instantly alarmed
    by it, in line with sources. As an alternative of treating it as
    an instantaneous threat, the US moved to research the article, seeing it as an opportunity to observe and gather
    intelligence. It wasn’t until the balloon entered Alaskan airspace after which took a
    pointy turn south that officials got here to believe its mission could be to spy on the US mainland, in line with a
    brand new timeline of occasions. Congress is about to receive new proof about the
    internal chaos at Southwest Airlines over the Christmas holiday meltdown. At a listening to as we speak,
    the pilots’ union is ready to characterize the operation as held together by “duct tape,” whereas Southwest’s chief operating officer is expected
    to apologize for the disruptions. On the time, greater than 16,seven hundred
    flights have been canceled and a couple of million passengers have been stranded,
    scuttling vacation plans and leaving mountains of unclaimed
    baggage nationwide. Since then, Southwest says it has been testing a scheduling software program
    replace, launched a brand new team in its command middle,
    improved telephone systems, and is investing in better preparedness
    for cold weather. The Department of Transportation is still investigating the causes of the meltdown, together with
    whether the airline scheduled extra flights than it could handle.
    This dog was residing in the open desert of
    Nevada for months after a pack of coyotes took him in as their
    very own. Watch the video here. That is the second drastic move the
    Nets have made over the past week with the team’s two biggest stars.
    The Buffalo Payments safety, who suffered a mid-sport cardiac arrest last month,
    has acquired an optimistic prognosis on his taking part in future.
    You may want a reservation if you want to see this fiery spectacle at California’s Yosemite Nationwide Park.
    See the large trove of acorns found by a pest control technician on a routine call.
    That’s how many jobs Disney stated it can cut, representing about 3% of its international workforce.
    Whereas Disney workers are feeling pain from the announcement,
    Iger additionally took steps on Wednesday to reward shareholders by planning to reinstate
    the corporate’s inventory dividend funds. Legal professional Normal Merrick Garland, issuing an announcement Wednesday after the suspect
    within the Texas Walmart massacre that left 23 lifeless in El Paso pleaded responsible to 90 federal charges.
    The 24-yr-outdated suspect will face 90 consecutive life sentences, based on a plea settlement
    that was reached after federal prosecutors said last
    month they would not search the loss of life penalty.

    The 2019 mass taking pictures was one of the deadliest assaults on Latinos in modern US history.
    Dr. Kathy Sullivan has walked in house and touched the deepest point within the ocean. Watch this brief video to listen to how
    both of these life-altering experiences shaped her perspective on the world.

  10. 토토사이트
    May 26th, 2023 @ 7:35 am

    Hey there I am so glad I found your web site, I really found
    you by mistake, while I was looking on Bing for something else, Regardless I am
    here now and would just like to say thank you for a fantastic
    post and a all round thrilling blog (I also love the theme/design), I don’t
    have time to read through it all at the minute but I have book-marked
    it and also added in your RSS feeds, so when I have time I will be back to read a great deal more,
    Please do keep up the awesome b.

    Here is my blog post 토토사이트

  11. sbobet
    May 27th, 2023 @ 1:04 pm

    Hello, I wish for to subscribe for this webpage to take latest updates,
    therefore where can i do it please help out.

  12. vivo slot
    May 27th, 2023 @ 9:47 pm

    Spot on with this write-up, I honestly believe this site
    needs much more attention. I’ll probably be back again to see more, thanks
    for the info!

  13. https://swedstate.com/
    May 28th, 2023 @ 9:30 am

    Generally I don’t learn article on blogs, however I wish
    to say that this write-up very forced me to check out and do so!
    Your writing style has been surprised me. Thanks, quite great article.

  14. sv388aduayam.com
    May 28th, 2023 @ 4:21 pm

    Does your site have a contact page? I’m having a tough time locating it but,
    I’d like to shoot you an e-mail. I’ve got
    some ideas for your blog you might be interested in hearing.
    Either way, great blog and I look forward to seeing it expand over time.

  15. vivoslot
    May 30th, 2023 @ 9:58 am

    Very nice post. I just stumbled upon your weblog and wished to
    say that I have truly enjoyed browsing your blog posts. In any case I will be subscribing to your feed and I
    hope you write again very soon!

  16. sbo bet
    May 31st, 2023 @ 5:18 pm

    What i don’t realize is in fact how you’re not really
    much more neatly-favored than you may be right now.
    You are so intelligent. You recognize thus significantly in relation to this subject, produced me individually imagine it from a lot of various angles.
    Its like women and men aren’t fascinated except
    it’s something to accomplish with Lady gaga! Your own stuffs outstanding.
    At all times deal with it up!

  17. sv388
    June 1st, 2023 @ 6:11 am

    I’ve been surfing online more than 3 hours today,
    yet I never found any interesting article like yours.
    It is pretty worth enough for me. In my opinion, if all web owners and bloggers made good content as you did,
    the web will be a lot more useful than ever before.

  18. sbobet 88
    June 1st, 2023 @ 11:50 am

    I was suggested this website by my cousin. I’m not sure whether
    this post is written by him as nobody else know such detailed about my trouble.
    You are wonderful! Thanks!

Leave a Reply