As synonymous with New York City as the Empire State Building or a slice of cheese pizza, high rent costs are a reality for all New Yorkers.
Rent is the recurring reminder nationwide of the costs of living; it doesn’t help that New York charges the highest rates across the country.
Fortunately, Governor Cuomo has temporarily taken the weight off our shoulders.
“As we approach the light at the end of the COVID-19 tunnel, it is critical that we continue to protect both New York’s tenants and business owners who have suffered tremendous hardship throughout this entire pandemic…” Governor Cuomo said.
Earlier in May, NY State Lawmakers passed legislation to offer relief to residential and commercial tenants. The extended Covid-19 Emergency Eviction and Foreclosure Prevention Act of 2020 aims to protect tenants from
- Foreclosure proceedings
- Credit discrimination
- Negative credit reporting.
This legislation is effective through August 31st 2021, compared to the July 31st date that the Biden administration imposed nationwide.
Millions of Americans depended on unemployment benefits and stimulus checks to keep them afloat throughout these times. Those are coming to an end soon. This recently passed legislation is also just a temporary relief.
On the bright side, unemployment rates continue their steady decrease towards the national average. As much as Covid-19 has been a financial burden, the effects on a personal level is just as devastating. Cities are gradually adapting to a pre-pandemic lifestyle which should improve the quality of life and bring us closer to the light at the end of the tunnel.
If you are facing eviction or running into financial problems with your home, contact our office at 718-539-1100 or email us at email@example.com.