Renters, commercial and apartment dwellers alike, can enjoy a sigh of relief. Landlords, will have to find a way to continue operating their properties with severely reduced operating cash with no rent money coming in.
Today, Gov. Cuomo extended a statewide moratorium on evictions through the end of August and promised that New Yorkers will not be forced to leave their homes or businesses for being unable to pay rent during the coronavirus pandemic.
“The No. 1 issue that people talk to me about probably is rent, and fear about being able to pay their rent, and this just takes that issue off the table until August 20,” said Cuomo at today’s coronavirus briefing.
Additionally, they will be taking steps to ban any late-payment fees during this moratorium and allow renters to use their security deposits as payment (the security deposits will be repaid over time).
Stay tuned for further updates. If you have any questions, feel free to call us at 212.213.8511.