HABITAT
Check Out What's Coming in Our March Issue!
Habitat's March issue tackles three critical developments affecting co-op and condo boards across NYC. First, buildings are facing potential carbon emission penalties — simply paying fines could trigger unexpected consequences, with financial institutions and insurers potentially flagging penalized buildings as high-risk investments. Fortunately, the city now offers carbon offset options that, while not free, provide a strategic alternative to preserve your building's standing.
The Fair Chance for Housing Act introduces significant changes to co-op admissions processes, prohibiting discrimination against applicants with criminal histories. Boards must now implement a mandatory two-step evaluation procedure to ensure compliance with this groundbreaking legislation.
Finally, boards need to consider proprietary lease modernization. Whether tackling specific sections or completely overhauling outdated documents, aligning leases with current best practices delivers substantial benefits that justify the investment.
Plus more in our Legal Talk, Smart Moves, and Problem Solved columns. Read them in the digital edition!
