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Q Our rental building had an unexpected gas leak and Con Edison shut off the gas service for six months for mandatory repairs. As part of the repairs, we were required to change all the gas pipes in the building to be able to reinstate the gas service to the tenants (75 apartments in total). Can the owner pass this repair and replacement expense as an MCI increase onto the tenants? That is, would the DHCR approve an application for an MCI increase for such a reason?
Q I own a small mixed-use building in Brooklyn with two commercial tenants, three rent-stabilized tenants, and three market-rate tenants. As a result of Local Law 152 gas piping inspection requirements, I will have to replace five of the stove gas lines used by the residential tenants to pass the inspection. Due to the high cost of changing the gas pipes, I’m considering switching from gas to electric stoves. As a result, I will need to buy new stoves for each one of the five apartments.
Q Foreign diplomats are smoking in their apartments. Are they allowed to claim some sort of diplomatic immunity from my building’s no-smoking policies? Are they exempt?
The Insider spoke with Jonathan Steward, vice president/producer, O&S Insurance Brokerage Group, to discuss why there are more and more exclusions in contractors’ insurance policies—and how to guard against them.
Insider: New York State’s one-of-a-kind Scaffold Law states that if a worker is injured in a fall caused by gravity, the owner of the building is automatically at fault. Is that what’s driving these exclusions and changes in the insurance policies?
Q Can you show how to implement the rent guidelines for vacancy leases starting Oct. 1, 2021? The New York City Lease Rider for Rent-Stabilized Tenants (DHCR form RA-LR1) hasn’t been updated since September 2019 and doesn’t show how the rents change after six months with the recent rent guidelines order.
The Insider spoke with Jonathan Steward, vice president/producer, O&S Insurance Brokerage Group, to discuss why there are more and more exclusions in contractors’ insurance policies—and how to guard against them.
Insider: New York State’s one-of-a-kind Scaffold Law states that if a worker is injured in a fall caused by gravity, the owner of the building is automatically at fault. Is that what’s driving these exclusions and changes in the insurance policies?
QUnder the new lead legislation, if an apartment is presumed to have lead, but there is no peeling paint and no child living in the apartment, do you have to have it inspected? If lead is found, what do you have to do?
The Insider spoke with Allen Wolff, a shareholder in the law firm Anderson Kill.
Q: Landlords are bracing for a drop in rental income as more and more tenants who lose their jobs stop paying rent. Would standard insurance that most landlords carry cover such a loss—that is, some kind of business interruption insurance? And if so, would they find that coverage in their property insurance policy or elsewhere? How is that typically covered?
Q It seems as though younger tenants want to do everything online and enjoy the convenience of electronically signing documents. Can I offer rent-stabilized renewal leases by electronic means?
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