search

The Real Deal Logo

Trending

H-E-B snags 21 acres in Celina, hinting at development boomH-E-B snags 21 acres in Celina, hinting at development boomHGTV’s “Mr. Flip It” gets four years in jail for $10M fraudHGTV’s “Mr. Flip It” gets four years in jail for $10M fraudRent board’s 4% hike will “plunge” buildings into distress: landlordsRent board’s 4% hike will “plunge” buildings into distress: landlordsLawmakers reach sweeping housing deal with “good cause eviction,” new 421aLawmakers reach sweeping housing deal with “good cause eviction,” new 421a
Hamptons Newsletter
New York

New rent law raises concerns about Hamptons rental market

<em>(Credit: Adam Moss)</em>
(Credit: Adam Moss)

Sign Up for the undefined Newsletter

A new rent law includes provisions that critics say could be detrimental to Hamptons landlords, as well as the East End rental market, 27east reported. The Housing Stability and Tenant Protection Act of 2019, which passed in June, has led to “a lot of confusion surrounding what the laws say and how they are going to play out,” Christine Perrucci Smith, a partner at East End law firm Esseks, Hefter, Angel, Di Talia & Pasca LLP, said at a presentation hosted by the Southampton Business Alliance. One of the concerning provisions is a law that impacts how much rent and how large a security deposit a landlord can collect up front. State Assemblyman Fred W. Thiele Jr. previously said the new rule wasn’t meant to impact summer rentals. [27east]