Good Cause Eviction (GCE) AKA 'No Eviction Ever!'
For those New Yorkers not working in government, the concept of why a tenant may earn eviction from a rental unit seems somewhat clear. They may include non-payment of rent, behavior unbecoming a tenant or, at the discretion of the landlord, non-renewal of their lease. There are other reasons one might imagine too.
But if the Good Cause Eviction bill were to pass, it will become extremely difficult for a landlord to raise rent, choose not to renew a lease, and any number of other reasons why being a multifamily building owner may not be the road to building wealth it has always been considered!
Add to the mix the Housing Security & Tenant Protection Act of 2019 that put all kinds of financial prohibitions on owners, and finding a universe of potential building buyers may become increasingly difficult along with any ability for the owner to increase their buildings value!
Our guest for this episode is a Partner at the New York City law firm of Rosenberg & Estis. This firm, with over 80 attorneys, is NYC’s largest firm focusing solely on real estate!
Alex Lycoyannis has been with R&E since 2002, and he has represented clients ranging from the country's largest real estate developers to nationally-recognized commercial tenants and individuals who own a single building.
On the subject of Good Cause Eviction he has published many articles and has argued before the New York State Senate. He is of the opinion that along with the 2019 bill, if GCE were to pass, it would devastate owners and hurt the very people purportedly being helped, the tenants!
Now sit back, and enjoy the conversation!
Do You Ever Wonder Host Mike Haltman
CEO, Hallmark Abstract Service
Board Chair, Heroes To Heroes Foundation
Alex Lycoyannis, Partner
Rosenberg & Estis
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