In response to the COVID-19 pandemic, New York State legislature has submitted this proposed bill to the Senate on February 2, 2021. The impetus behind this bill is the serious emergency that exists in the State of New York due to the impact of the global outbreak of novel coronavirus, COVID-19, which as of the date of this legislation, has created destabilized housing, loss of employment and income, closure of businesses and schools, and has greatly exacerbated financial insecurity in the state of New York.
The legislature further finds that it is currently impossible to accurately assess the full scope, duration, and severity of impact this public emergency has and will have on the residents of New York and that, in response to this crisis, on March 7, 2020, the executive declared a ‘State Disaster Emergency’ which has put extraordinary constraints on individuals, families, homeowners, not-for-profits, residential housing cooperatives, and local, state, and federal agencies. The legislature further finds that the loss of employment, illness and deaths caused by the COVID-19 outbreak have rendered many individuals and families unable to pay for the costs of housing and other life necessities.
In summary, this bill would:
- Suspend all residential rent obligations for the period March 7, 2020 through 90 days after the state of emergency declared by the Governor ends;
- Suspend all mortgage payments for homeowners whose primary residence has six or fewer units;
- Require the Commissioner of Housing and Community Renewal to issue regulations:
- Provide assistance to residential cooperatives and affordable housing operators losing maintenance and rental income;
- Establish and manage relief funds for landlords and public housing authorities.
It is imperative that you contact an experienced landlord tenant and foreclosure attorney who can help you understand this proposed legislation.
Contact Clair Gjertsen & Weathers, PLLC at [email protected] for more information. We look forward to servicing you.