The annual final vote of the New York City Rent Guidelines Board was held on Thursday June 17, amidst loud protests from a large group of Tenants and Seniors who attended the Hearings. The Board, at the preliminary meeting earlier in the month had established a range of possible Guideline amounts between a low of 3% and a high of 7.5%.
The City Council revived a proposed Bill which had failed to reach a final vote last Fall. The Council Intro or Introduction would allow Tenants with pets, who have avoided the open and notorious standard of the existing law, to replace that pet, at anytime, regardless of the Owners consent. This is figured by measuring the yield of the property valuation. Huge yields from a property www.wcvaluers.com.au valuation will doubtlessly be worth buying. Hoffman emphasized his obligation to all Tenants of the building, particularly in buildings which have adopted a No Pet policy, but allowed existing pets to remain.
The mixture of academics from Law and Political Science; practitioners of public administration. It is anticipated that this Bill will come before the Council for a vote later this year. CHIP Members are urged to contact their local Council member to vote against this bill.
During the months of testimony leading up to passage of the new Lead Paint Bill, many industry leaders raised concerns that other environmental sources of lead poisoning were being ignored. For example, testimony presented by the Health Commissioner detailed that a significant number of children who tested positive for lead lived in apartments where there was no evidence of Lead Paint.
Recent news articles have detailed unsafe lead levels in foreign manufactured health products, candy and food and, in domestically manufactured toys and costume jewelry. These facts have caused the City Council to propose legislation to ban the manufacturing and sale of these products in New York.
Residential housing nationally and in New York in particular is in for some hard times over the next year or two according to several economic forecasts published recently. The bottom line is that real estate lags the economy going into a recession and coming out. New York will continue to experience job losses for at least the next six months limiting rents.