Ep. 63 - The Many Negatives of Good Cause Eviction

The Many Negatives of Good Cause Eviction” was the topic of this episode of “Building Knowledge.” Good Cause Eviction is a New York State law that affects the Landlord/Tenant Sector. The law went into effect on April 20th, 2024. The building and realty sectors in New York State are seriously concerned about the many negatives of the Good Cause Eviction Mandate. Two well-known representatives of the building and realty industry reviewed those concerns in this segment of “Building Knowledge” - Ann Korchak, the Board President of The Small Property Owners of New York (SPONY), and Lisa DeRosa, Chair of The Building and Realty Institute (BRI). The episode  featured: 1) A complete definition of the Good Cause Eviction law; 2) A discussion on units that are exempt from the Good Cause Eviction Mandate; 3) How the Good Cause Eviction law has affected members of The Small Property Owners of New York (SPONY) in negative ways; 4) Lisa DeRosa’s thoughts on what she would say to officials in Westchester County municipalities that are considering opting-in to the Good Cause Eviction Mandate; 5) A discussion on how many in the building and realty sectors feel that the Good Cause Eviction Mandate will discourage investors from other areas throughout the U.S. from investing in New York State; 6) A discussion on the biggest challenges facing Owners and Managers of multi-family buildings and complexes in New York City and in Westchester County; 7) What Ann Korchak and Lisa DeRosa would say to local and state legislators about the negatives of Good Cause Eviction, and the struggles of Owners and Managers of multi-family buildings, if they had the opportunities to speak with them.