Two bills have been introduced in the state Legislature to carve co-ops out of the Housing Stability and Tenant Protection Act. The intention of the act, which was signed into law by Gov. Andrew Cuomo on June 14, 2019, was to provide protections to the millions of tenants in rental properties in the state of New York. However, the act has had a profound – and clearly unintended – impact on the thousands of housing cooperatives in the state, because co-op boards have a landlord-tenant relationship with shareholders. Read the article………………………….
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