Tuesday, March 31, 2020

New York City Landlords Brace for April 1 Rent Defaults

Aaron Sirulnick, Chairman of the Rent Stabilization Association

Real Estate Weekly: Braced for a deluge of rent defaults some 25,000 New York City landlords are asking Mayor Bill de Blasio for payment forgiveness on property tax assessments, water and sewer bills as COVID-19 closes the city.

The plea came as the mayor made his own call to the state for a rent freeze for the city’s 1.1 million stabilized apartments. 


“Albany lawmakers are pushing for 90-day rent forgiveness for residential and commercial tenants – and on top of all this, the mayor and many state legislators are now calling for an automatic one-year rent freeze on all rent-stabilized apartments in lieu of this year’s RGB deliberations,” said Rent Stabilization Association president Joseph Strasburg and chairman Aaron Sirulnick in a joint statement.

Click here for the full report 

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