Schwadel and Turkel of Rosenberg lead seminar on Rent Act of 2015

New York, NY Blaine Schwadel and Jeffrey Turkel, members of Rosenberg & Estis, P.C., provided presentations on changes to the Rent Act of 2015 before multiple organizations, including the Real Estate Board of New York, the Community Housing Improvement Program, and the Rent Stabilization Association in conjunction with the New York County Lawyers Association. Schwadel and Turkel are acknowledged experts on rent regulation, and provided detailed analysis on the Rent Act, which became effective on June 15, 2015 and runs through June 15, 2019. The discussions centered on amendments to the Rent Act, which increased the threshold for high rent vacancy, high income/high rent deregulation, added indexing to these deregulation thresholds, and modified the vacancy allowances permitted for apartments leased with a preferential rent. Schwadel and Turkel also addressed changes in the language of the statute that have created confusion about whether an owner can include legally permitted increases to the legal rent subsequent to vacancy in order to bring the rent of the vacant apartment above the deregulation threshold, or whether the apartment had to be above the legal deregulation threshold prior to vacancy for the apartment to be deregulated.