Property Management
In New York, the 'good cause eviction' law enacted in 2024 provides tenants in covered buildings the right to:
ARemain in possession indefinitely regardless of lease expiration
BA lease renewal (absent good cause) and limits allowable rent increases for covered units✓ Correct
CConvert their rental unit to a cooperative
DSublease to any third party without landlord approval
Explanation
New York's Good Cause Eviction Law (enacted as part of the 2024 budget) extends eviction protections to tenants in unregulated rental units in certain municipalities, requiring landlords to have good cause to evict and limiting rent increases. It provides protections similar to rent stabilization for previously unregulated units in covered areas.
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