News & Analysis as of

Condominiums Rental Property

Winstead PC

An Unanticipated Complication of Investing in SFR: Investors Sometimes End Up Being HOA Managers

Winstead PC on

Build-to-Rent (“BTR”) is a subsector of Single Family Rentals (“SFR”). As a subsector of SFR, BTR occupies a unique space within the U.S. residential rental market. The broader category of SFR includes scattered homes for...more

Clark Hill PLC

Recent Changes to Illinois Real Estate Law Affecting Landlords, Tenants in 2025

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2025 brought over 300 changes to the laws of the State of Illinois. Some of these new laws impact the relationship between landlords and tenants and also impose further restrictions on condominium associations. At the start...more

Fox Rothschild LLP

The New York City Fair Chance for Housing Act: What You Need to Know

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New York City’s Fair Chance for Housing Act went into effect Jan. 1, 2025. It is intended to address discrimination against individuals with a criminal history in the housing application process. The Act requires all...more

Ballard Spahr LLP

Prince George’s County Anti-Gouging Bill and Rent Control Guidance; Montgomery County Term Limits and Troubled Properties...

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With another interest rate cut, the capital markets appear to be more promising for real estate transactions; time will tell how this month’s elections will impact the real estate industry. ...more

Ballard Spahr LLP

Multifamily Update-Rent Control Portal, Eviction Reforms, Shelf and Conversion Condos, BEPS, Vacancy Control, Just Cause...

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On the multifamily front, transactions are picking up. The benefits of the interest rate cut by the Fed are offset somewhat by the increasingly complex legal and regulatory environment impacting multifamily properties,...more

Sands Anderson PC

Virginia Real Estate Law Updates for 2024

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Effective July 1, 2024, Virginia has implemented several significant changes to its real estate laws. In this year’s installment, tenants get a whole lot of protections (kind of), HOAs are put on a tighter leash, and brokers...more

Cozen O'Connor

Property Owners Beware: Criminal Background Checks Could be a Way of the Past

Cozen O'Connor on

Effective January 1, 2025, housing providers in New York City will need to think twice about how they use criminal background checks. Local Law No. 24, titled the Fair Chance Housing Act, limits the use of criminal background...more

Saul Ewing LLP

Impending Changes to Condo Act Require Action Regarding Parking for Disabled Owners

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The Illinois General Assembly has passed legislation that will add a new Section 18.12 to the Illinois Condominium Property Act that will require all condominiums with parking to adopt policies regarding accessible parking...more

Whiteford

2024 Virginia Legislative Updates for Common Interest Communities

Whiteford on

The Virginia General Assembly approved a number of bills during its 2024 legislative session. Some of the bills impact, directly or indirectly, common interest communities. The Governor of Virginia signed the following bills...more

K&L Gates LLP

New Illinois Laws for 2024 Affecting Real Estate

K&L Gates LLP on

Illinois has passed a number of laws effective 1 January 2024 that impact commercial real estate and development. These new laws range from new requirements for residential landlords, first of its kind electric vehicle...more

Ballard Spahr LLP

DC/Maryland Multifamily Alert

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Happy Holidays to all. We are still hopeful that Santa brings everyone some relief from rent control and other multifamily restrictions (we heard that the new BEPS Regulations preclude Santa from leaving coal for legislators...more

Cozen O'Connor

How Can Coop and Condo Boards Further Restrict Short-Term Rentals?

Cozen O'Connor on

New York City recently adopted Local Law 18, also known as the “Short-Term Rental Registration Law,” which requires owners and/or renters (hosts) who want to rent out their residential units for less than 30 days to register...more

Sands Anderson PC

From Condos Made of Stone-a, to Professional Office Condominiums

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If you’re my vintage, you might remember Steve Martin’s catchy 1978 hit tune, “King Tut,” whose protagonist “lived in a condo made of stone-a.” Good luck getting this out of your head....more

Ballard Spahr LLP

Action Required: Pending DC Warranty Legislation May Significantly Impact Multifamily Developers

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Summary - The Condominium Warranty Claims Clarification Amendment Act of 2022, as proposed, will result in a major shift in many aspects of development in the District of Columbia that may substantially disadvantage...more

Winstead PC

A Summer of Short-Term Rentals: Planned-Community Considerations

Winstead PC on

Industry experts are predicting strong demand for short-term rentals in 2021, due in large part to a re-opening economy and pent-up demand for travel. While the decision to encourage or restrict short-term rentals varies from...more

Holland & Knight LLP

New York Legislation Would Prohibit Eviction Without Good Cause

Holland & Knight LLP on

Twenty-four members of the New York State Senate on Jan. 27, 2021, introduced S-3082, and 43 members of the New York State Assembly on Feb. 19, 2021, introduced A-5573 (collectively, the bills), which would preclude the...more

Saul Ewing LLP

New Eviction Executive Order: November 2020

Saul Ewing LLP on

Executive Order 2020-72 Allows Limited Resumption of Eviction Lawsuits for Collection of Unpaid Assessments by Illinois Condominium and Common Interest Community Associations....more

Best Best & Krieger LLP

California Clears the Path for Rentals in Residential Common Interest Developments

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However, AB 3182 Creates Ambiguity for Rental Restrictions in CIDs - Consistent with California’s trend of removing barriers to affordable housing, Assembly Bill 3182, which goes into effect on Jan. 1, further limits the...more

Seyfarth Shaw LLP

NY Residential Cooperative Corporations and Condominium Associations — Left Out of Protections under Governor Cuomo’s E. O. 202.38...

Seyfarth Shaw LLP on

Seyfarth Synopsis: New York residential rental building owners, cooperative corporations and condominium associations and their managing agents are left out of Governor Andrew Cuomo’s June 6 Executive Order 202.38 which among...more

Cozen O'Connor

Boards Should Prepare Now for a Potential Second Wave of COVID-19

Cozen O'Connor on

Boards of cooperatives and condominiums have faced unique and profound challenges due to COVID-19. To date, boards seeking to take action have had their proverbial hands tied behind their backs during the COVID-19 bans on...more

Best Best & Krieger LLP

Takings Claim Fails on “Ripeness” Grounds

Ninth Circuit Decision in Apartment-Condominium Conversion Program Dispute - Property owners who claimed the City and County of San Francisco’s apartment-to-condominium building conversion program’s lifetime lease...more

Cozen O'Connor

The New York State SHIELD Act Becomes Effective March 21: Is Your Board in Compliance?

Cozen O'Connor on

In the midst of the coronavirus pandemic when more condo and coop board business is being conducted electronically than ever before, the Stop Hacks and Improve Electronic Data Security Act (SHIELD Act) will go into effect on...more

Ballard Spahr LLP

Virginia Developers Should Review Their Transactional Documents In Light Of Revisions To Commonwealth’s Title 55, Condominium Act

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Effective October 1, Virginia will recodify several laws related to conveyance of real estate and rental property, settlement and recordation of real estate, and common interest communities, including condominiums, HOAs, and...more

Holland & Knight LLP

New Tenant Protection Law Affects Conversions of Rental Buildings in New York - Law Also Impacts Proprietary Leases, Subleases and...

Holland & Knight LLP on

• New York's Housing Stability and Tenant Protection Act of 2019, which was enacted and became effective on June 14, 2019, will have a sizable impact on a landlord's ability to convert buildings to cooperatives and...more

Foster Garvey PC

Short-Term Rental Update: Short-term rentals continue to gain market share; partnering early in the multifamily development...

Foster Garvey PC on

Short-Term Rentals Continue to Gain Market Share - ("Booking Holdings breaks down private accommodation revenues for first time, now at 20% of total," Phocuswire, Feb 27, 2019) Alternative accommodations, including...more

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