How 'Good Cause' Could Give Some Tenants New Leases and Lower Rent

Real Estate attorney Alexander Lycoyannis was quoted in a The City article about New York's new "good cause" policy and how it could impact renters in New York City. The regulation will cap rent increases and require landlords of certain apartment buildings to offer tenants new leases unless they have a "good cause" for not renewing the lease, such as non-payment of rent. Under the law, tenants will be responsible for asserting their rights through taking landlords to Housing Court. In the article, Mr. Lycoyannis noted that the court is already swamped and provided other important points for tenants thinking of exercising this option.

"There are going to be more disputes and more requirements for the landlords to follow. And when you have more requirements and more potential flashpoints, you're going to have more litigation. And we're going to have that at a point where the Housing Court is already overworked and already slow," he said.

READ: How 'Good Cause' Could Give Some Tenants New Leases and Lower Rent