Happy Independence Week to our readers. 249 years after our great country declared its independence, will some multifamily owners and investors soon be free from TOPA? ...more
Most multifamily owners and managers are aware that discrimination against disabled tenants can result in litigation and increase the project’s operating expenses. However, the Fair Housing Act (FHA) not only prohibits...more
As spring begins to give way to summer, legislative activity shows no signs of cooling off. Our May TOPA Alert generated many questions and comments and a further update on the pending TOPA reform legislation is included...more
A rent-ready credit is a legal provision commonly included in a multifamily real estate purchase agreement that allows a buyer to recover turnover costs at closing. The credit is used to cover the costs needed to make vacant...more
This month’s Alert updates recent housing legislation, including proposed amendments to the DC Tenant Opportunity to Purchase Act (TOPA), the launch of the DC RentRegistry portal, and updates to Montgomery County's rent...more
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
As summer 2024 winds down, the implementation of new rent control laws has attracted much attention. Providing some respite from the summer’s rent control heat is a recent win for the multifamily industry coming from the...more
New York recently adopted the Affordable Neighborhoods for New Yorkers (ANNY) Tax Incentive and the Affordable Housing from Commercial Conversions (AHCC) Tax Incentive programs, as well as a host of other new and modified...more
We continue to track important legislative and regulatory proposals and changes in the region. Our most recent prior Alert discussed rent control efforts in Maryland, changes to the Low Income Housing Tax Credit program,...more
The city of Berkeley will pay $4 million in connection with its mishandling of an application to build 260 housing units on the old Spenger's parking lot. Alameda County Superior Court Judge Frank Roesch fined Berkeley $2.6...more
With likely recession encroaching, PropTech seen as cost-cutting tool in CRE - Bisnow – October 11 A rolling series of challenges, from the pandemic to labor shortages to an unfolding economic downturn, have increased focus...more
In a Report and Order and Declaratory Ruling (Order) released on February 15, 2022, the Federal Communications Commission (FCC) unanimously adopted new rules intended to give tenants in multi-tenant environments (MTE)—such as...more
Times are challenging for multifamily landlords with nonpaying tenants. Landlords depend on rent to pay taxes, insurance, maintenance, management fees, debt service, and other expenses related to the property. Government...more