You may have heard that there was recently a multimillion-dollar settlement in a class action lawsuit against the National Association of Realtors (NAR) that would have ramifications for the housing market across the U.S. However, it’s understandable that unless...
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What is normal wear and tear?
Landlords and tenants sometimes find themselves engaged in disputes over who has to pay for general maintenance and upkeep. For instance, a landlord may try to keep a security deposit when a tenant moves out, saying that they need to fix all of the things that were...
Strategies for safeguarding tenant privacy in rental properties
If you are a landlord or property manager, protecting your tenants’ privacy is of utmost important. You should ensure legally compliant practices to safeguard their personal information and better ensure that their living space remains private and secure. Tenants have...
What’s a self-help eviction?
Landlords don’t like to conduct evictions. The legal process of an eviction can be complicated, messy and expensive. If a tenant is so inclined, there’s also the risk of significant property damage while the formal eviction process is followed. It’s no surprise, then,...
What to know about exit strategies in business partnerships
You or your business partner may have different goals in the future. Accordingly, you may want to leave the company. Or you may wish to retire. For this reason, it's crucial to include an exit clause in your business agreement. Here is what to know about this clause:...
The purpose of a force majeure clause in a contract
A common provision that is contained in many New York business contracts, a force majeure clause absolves the parties of their contractual obligations when it applies. This clause ends a contract when events beyond the parties' control occur and materially affect...
How to know if you have a commercial disparagement claim
Commercial disparagement is a business tort, also known as trade libel, slander of goods or product disparagement. It happens when someone makes false statements about a business or the product it produces, which damages the company’s reputation. It can also cause...
Understanding the co-op housing model
Housing is a pressing concern for New York residents, especially in the city. The need for housing in a limited real estate market has led to several models. Cooperative housing, commonly referred to as a co-op, is a communal living arrangement found in many New York...
A comprehensive guide on purposes of corporate bylaws in New York
Corporation bylaws are also known as company bylaws. This document signifies the first official establishment by a company's board of directors. The bylaws are usually created after the submission of Articles of Incorporation. As a result, many individuals confuse the...
How to sue co-op board of directors in New York
When you bought your condo or apartment in New York, the board members gave you a document that stipulated the responsibilities and rights of each party. This document, commonly known as the bylaws, binds both parties to certain obligations. For example, the board...