Elad michael,
Real Estate Lawyer
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NYC Real Estate Attorney Insights, Legal Updates, and Investment Tips
Stay informed about New York City real estate laws, investment opportunities, and legal strategies with articles written by Elad Michael, NYC real estate attorney.
Understanding NYC’s Fair Chance Housing Law (2025): What It Means for Landlords and Tenants
2025-11-08 18:21
Understanding NYC’s Fair Chance Housing Law (2025): What It Means for Landlords and Tenants New York City’s housing laws continue to evolve to promote fairness, transparency, and equal opportunity in one of the nation’s most competitive real estate markets. The Fair Chance for Housing Act (Local Law 24 of 2024), effective January 1, 2025, marks a significant step in that progression. This law prohibits most forms of discrimination based on criminal history in housing applications, extending its protections to rentals, co-ops, condominiums, and property sales across all five bor...
Understanding the Good Guy Guaranty in NYC Commercial Leases
2025-07-26 10:51
Understanding the Good Guy Guaranty in NYC Commercial Leases If you are negotiating a commercial lease in New York City, chances are you will come across a term called the Good Guy Guaranty. Despite its informal name, it carries significant legal and financial implications, particularly for small business owners, startups, and landlords throughout Manhattan and the surrounding boroughs. This article explains what a Good Guy Guaranty is, how it functions in commercial leasing in NYC, and what both landlords and tenants should watch for when negotiating this important lease term. ...
Understanding New York's Good Cause Eviction Law: What Tenants and Landlords Need to Know
2025-07-13 11:06
Understanding New York's Good Cause Eviction Law: What Tenants and Landlords Need to Know New York's newly enacted Good Cause Eviction Law (effective April 20, 2024) (“GCEL”) significantly changes the landscape for both tenants and landlords in unregulated housing. For the first time, many tenants in market-rate apartments now have protection against unjust evictions and excessive rent increases. In effect, the GCEL imposes rent-stabilization-like obligations on landlords, requiring them to renew leases unless they can demonstrate “good cause” for termination. This article breaks down the...
NYC Rent Stabilization vs. Rent Control: What Landlords and Investors Must Know
2025-06-22 22:03
NYC Rent Stabilization vs. Rent Control: What Landlords and Investors Must Know New York City’s rent regulation system is a critical consideration for landlords and real estate investors. Whether you are acquiring multifamily properties or managing existing assets, knowing the difference between rent-stabilized and rent-controlled apartments is essential for legal compliance, financial forecasting, and strategic planning. This guide breaks down both regulatory systems and highlights what owners need to know in 2025 and beyond. What Is Rent Stabilization in NYC? Re...
New York Security Deposit Law: What Landlords And Tenants Must Know
2025-04-17 21:28
New York Security Deposit Law: What Landlords and Tenants Must Know Article 7 of New York State’s General Obligations Law (“GOL”) governs the treatment of security deposits in rental properties. For free-market rental units in New York, the most relevant sections are GOL § 7-103 and GOL § 7-108. These laws are designed to protect tenants and ensure proper handling of their deposits.