In an effort to protect small businesses from high rents, on June 13, both houses of New York's legislature passed a bill, S1163, that prohibits "rent minimums" in real estate secured loan documents. As of this writing, this...more
A new Chicago ordinance requires mortgagees who acquire residential rental property through a foreclosure or deed in lieu of foreclosure to either provide an option to renew the lease or offer relocation assistance to a...more