News
Rules and Regulations from the New York City government agencies change on a
constant basis. While new or revised laws are often meant to be protective for tenants
and landlords, they are nonetheless very onerous and cumbersome. With over one
thousand city inspectors who issue more than 500,000 violations annually across
975,000 buildings, New York City is one of the most challenging arenas for real estate
management. With new laws, strict regulations, high fines and aggressive collection
methods, managers need to adapt quicker than ever to avoid penalties. After all, it’s not
your grandfather’s city anymore.
New Multi-Agency Task Force
Even though managing buildings in NYC can be difficult at times staying knowledgeable
and prepared is the best way to stay one step ahead of the curve. Here are some of the
latest regulations affecting New York City property management.
ECB Update
In the Past, recipients of ECB violations had twelve months to reopen a defaulted violation. The new guidelines issued by ECB drastically shorten the reopening time frame to only 45 days from the original hearing date. As per the new regulations, reopening a defaulted violation after 45 days will only be allowed if specific documented proof is available (e.g. respondent was not the owner of the property at the time the violations was issued). ECB further limits the reopening of violations by only allowing violations to be reopened one time.
