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For generations, New York’s Rent Control and Rent Stabilization Laws, which limit the amount of rent residential tenants may be charged and provide other protections, have been fixtures of New York real estate. For a time (1945-1963), New York City (the City) had a rent control statute applicable to commercial tenants, but that law expired, after which commercial rent control disappeared from the policy landscape. However, as retail vacancies have multiplied in the City in recent years, some in the City Council have advocated for the reconsideration of commercial rent control, as set out in a proposed piece of legislation, the Small Business Jobs Survival Act (Intro 737). §22-1202, et seq. This article provides a brief, nontechnical review of the bill and the legal and practical hurdles it faces if enacted.
By Alan Nochumson
Part One of a Two-Part Article
When entering into a lease for commercial space, there are some items that should not be overlooked. Landlords and tenants alike should make sure that the following things are addressed in the lease, one way or another.
By Ira Fierstein and Michelle Palka
An Illinois Appellate Court recently ruled in favor of a commercial tenant after a new owner acquired a commercial building and attempted to collect accrued unpaid rent owed to the previous landlord.
By Albena Petrakov
With the recent carnage in the retail industry, including Sears and many other retailers of all shapes and sizes, a lot of attention goes to the fate of landlords when their tenants seek bankruptcy protection.
First Court’s Lack of Jurisdiction over Cause of Action Means Second Action Is Not Barred