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As summer 2024 winds down, the implementation of new rent control laws has attracted much attention. Providing some respite from the summer’s rent control heat is a recent win for the multifamily industry coming from the...more
The City of Rockville and Montgomery County are addressing affordable housing with differing approaches. Both jurisdictions took action on rent control this summer, with plans for future legislation or applicable regulations...more
On 17 July 2024, the King announced a new Renters’ Rights Bill (“RRB”) to be introduced “to give greater rights and protections to people renting their homes...” The RRB has not yet been published however the background...more
Rent control continues to be headline news, with local legislation being enacted and national legislation being proposed. The rent control law in Prince George’s County was enacted yesterday and it appears that the rent...more
On July 16, President Biden called on Congress to enact legislation to temporarily cap annual residential rent increases. Under the proposal, rental property owners with over 50 residential units in their portfolio would not...more
Rent control laws continue to evolve in Montgomery and Prince George’s Counties. The rent control law enacted last year in Montgomery County will become effective once regulations are adopted. Our recent Alert discussed these...more
On Friday, June 14, 2024, the Montgomery County Department of Housing and Community Affairs (DHCA) delivered proposed regulations to the Montgomery County Council (Council) for review and consideration. The proposed...more
Effective July 1, 2024, California residential landlords will generally only be able to charge security deposits equal to one month’s rent with some exceptions for smaller landlords. This is pursuant to Assembly Bill 12...more
Our prior Alert discussed the Prince George’s County temporary extension of rent control, Montgomery County rent control updates and the much-anticipated rent control regulations, rental license fee increases, new housing...more
Varano v. PDJM Land Tr., LLC, 103 Mass. App. Ct. 1127 (2024) - We last wrote about Varano v. PDJM in our November 2022 issue of Law of the Land. In the first iteration of Varano, the Superior Court held that a commercial...more
Broadly speaking, according to the Florida Department of Revenue, each Florida sale, amusement park admission, storage unit and rental is taxable (unless it falls under an exemption, such as nonprofits). More specifically,...more
Q: I was appointed receiver over a manufacturing facility. I operated it for a short time and then obtained court authority to sell it. I netted $1.4 million from the sale....more
As Rishi Sunak was deluged with rain announcing a general election on 4 July, those in the property world were wondering what this means for the flood of leasehold reform going through parliament. Here’s what you need to...more
In an effort to alleviate the financial burdens faced by small residential landlords during the ongoing economic recovery from the COVID-19 pandemic, Los Angeles County has introduced the Los Angeles County Rent Relief...more
Over the last decade, apartment owners and managers have increasingly used algorithm-based software to set rents. This practice and its practitioners are now under scrutiny as many owners and operators are being investigated...more
The Florida Department of Revenue released Tax Information Publication (TIP) 24A01-02 on April 8, 2024, indicating that the state sales tax rate on the "total rent charged for renting, leasing, or granting a license to use...more
In our latest roundup, apartment sales fall for seventh straight quarter, raising real estate capital proves challenging, aspiring homeowners face strong obstacles, and more!...more
The recently enacted HB24-1098 in Colorado introduces significant shifts in the dynamics of landlord-tenant relationships, prompting a need for careful understanding of the new regulations and procedures regarding evictions....more
As investors scrutinise German residential real estate opportunities in 2024, the environment looks very different from a year ago. While some large deals were executed in 2023 despite pressures in the market, the outlook for...more
New York state has enacted changes in the housing laws that will have a significant impact on the development and operation of multifamily housing in New York City and the state, and will also ameliorate the effects of...more
It seems like year-after-year, attempts are made to reform or repeal California’s rent control regulations, namely the Costa-Hawkins Rental Housing Act (Civ. Code §§ 1954.50 et seq.) (Costa-Hawkins Act). 2024 has proven to be...more
The Florida Housing Finance Corporation (“FHFC”) recently published their 2024 Income Limits and Rent Limits. These figures show up to a 10% increase in rent limits applicable to qualified Live Local Act projects throughout...more
In 2023, Providence had the largest year over year residential rent increase compared to every other major U.S. city. Rising rental rates are not isolated to the Ocean State. Median residential rent prices increased in cities...more
The Department of Housing and Urban Development (HUD) recently announced the 2024 Area Median Income (AMI) and Rent Limits for counties statewide. These numbers are impactful on a number of levels, but are extremely important...more
There have been a number of new regulatory developments since our prior Alert, including updates on Prince George’s County rent control, Montgomery County tenant protections, Montgomery County Right of First Refusal (ROFR)...more