Friday the 13th upheld its superstitious reputation for the multifamily industry. A federal judge allowed the newly extended residential eviction moratorium to stand for now because of a complex legal technicality.
"The repeated extensions are harming landlords so much so that now landlords are among the homeless the moratoriums sought to protect," Michelle Quinn, a partner at law firm Gallet Dreyer & Berkey, tells GlobeSt.com. Many smaller landlords have been hard hit by the requirement to keep in place tenants not paying rent under the moratorium while not receiving compensation necessary to pay their own mortgages and operating costs.
"With this decision, the current system New York has in place for enforcement of resident lease obligations is effectively the honor system," Michael Feldman, CEO of Choice NY Companies, tells GlobeSt.com.
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