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Bar Association: NYC Has No Legal Rights to Establish Commercial Rent Control (The Jewish Voice)
The Jewish Voice, September 13, 2018
Bar association says city lacks authority to establish commercial rent control
“Risings rents, the shuttering of businesses and store front vacancies have led to a plea to instate some sort of commercial rent control in NYC. Though exciting and popular, the notion still seems like a distant fantasy. On Tuesday, the New York City Bar Association released a report stating that the city does not have the legal authority to establish commercial rent control. The statement conveys the association’s opposition to the pending bill, which was crafted to give retail tenants power over lease renewals. Should the bill be passed into law, the bar says it would probably be shot down in court.”
