Thursday, March 19, 2020

REBNY agrees to suspending evictions for three months during pandemic

The Real Deal

The Real Estate Board of New York announced on Friday that more than two dozen of its members, who own 150,000 rental apartments, have pledged to hold off on evictions for the next three months in response to the coronavirus.

“No one knows how long this pandemic is going to take to play out,” REBNY president James Whelan said. “Our best guess, in terms of seeing this through, was to look at a 90-day time period.”
Starting immediately, the members will not execute any warrant of eviction for three months with the exception of criminal or negligent behavior that jeopardizes the life, health or safety of other residents, according to a letter released by REBNY.

“With all the stress, health risk and economic suffering going on now, no one should have to worry about losing their place to live during this crisis,” REBNY said in a statement.
The letter was signed by a who’s who of New York City real estate, including A&E Real Estate’s Douglas Eisenberg, Richard LeFrak, Related Companies’ Jeff Blau, Brookfield Property Group’s Ric Clark, RXR Realty’s Scott Rechler, Taconic Partners’ Paul Pariser and Charles Bendit, Blackstone’s Ken Caplan and Kathleen McCarthy and others.

The move comes just hours after the state announced a one-week moratorium on evictions in New York City, to begin Monday, after calls to do so erupted across the nation.

The leading real estate trade group’s announcement also coincided with a push from more than 100 other organizations across the city, spearheaded by the tenant advocacy group Right to Counsel NYC Coalition, which sent a letter to mayor Bill de Blasio, urging him to close the city’s housing courts during the coronavirus pandemic.


ak_nyc said...

dude, this is nothing about suspending RENTS.
RENTS still need to be paid.'
Evictions will not be filed. Two totally separate things.

JQ LLC said...

Apologies AK and crap readers. I corrected it.

Although rents should be suspended until this subsides. The human race is at stake here.

TommyR said...

Little annoyed bout this since it means some problem tenants my corp has get yet another month(s) of free rent, but for the greater good it's necessary and needed.

Anonymous said...

"The human race is at stake here." LOL
Really how is that ?
For the longest time you bashed Trump's border policies.
The only rule the fake news follows is: Orange man is bad and wrong, even when he's good and correct. Trump's Policies Have Been Vindicated And The Fake News Narrative Proven To Be LIES !

JQ LLC said...

@Anon re: LOL

I never bashed Trump's border policies on here.

You got #TDS.