NY Landlords Push for Easy Unpaid Rent Solution

New York landlords are hoping to resolve unpaid rent issues without going to housing court. It's a plan that could save time and money for both tenants and landlords, but tenant advocates are fighting against the proposal, claiming it will cause more harm than good. Landlords say tenant groups are angry because they weren't consulted before it was proposed to officials. But, there's a reason for that which I'll share with you. New York is not known as a landlord-friendly state and is one of the proving grounds for rent regulation, usually favoring the tenant. In this case, the landlord group "Community Housing Improvement Program," which is also known as CHIP, presented a plan that would give tenants the option for mediation after meeting with a financial advisor. If that isn't okay with the tenant, then the case goes to housing court... ...You can read more about New York rent issues, by following links in the show notes for this podcast at newsforinvestors.com. If you want to learn more about all aspects of the housing market and how to become a landlord in places that are not as complicated as New York, sign up as a RealWealth member. It's free and you'll have access to all our data, hundreds of webinars, and real estate professionals, including our experienced investment counselors. Also, please remember to subscribe to this podcast, and leave a review! Thanks for listening! Kathy Fettke Links: 1 - https://therealdeal.com/new-york/2023/11/28/landlords-pitch-unpaid-rent-plan-but-without-tenant-groups/ 2 - https://therealdeal.com/new-york/2023/05/22/pols-weakened-landlords-vacant-unit-bill-did-they-go-too-far/ 3 - https://www.forbes.com/sites/shimonshkury/2023/11/08/the-struggle-relief-needed-for-landlords-of-new-york-city-rent-regulated-housing/?sh=61ed38721fad 4 - https://www.righttocounselnyc.org/ourmembers