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What You Should Know about the Corporate Transparency Act (CTA)
By February 23, 2024 Posted in Firm News Share
If you're a landlord with rental units in the United States, or a board member at a condominium association, co-op or HOA, you need to be aware of the Corporate Transparency Act (CTA). This legislation, established under Title LXIV of the Defense Act, is set to take effect on January 1, 2024, and it carries significant implications for landlords and property owners.
Understanding the Increased Inspection and Funding Duties for Community Associations
By January 9, 2024 Posted in Community Association Law Share
On Monday, January 8, 2024, New Jersey Governor, Phil Murphy, signed S.2760 / A.4384. This law, which has been approved as P.L.2023, c.214, was motivated by the building collapse in Surfside, Florida in 2021. This new law provides new and additional procedures for inspecting, evaluating, and maintaining the structural integrity of certain residential housing structures.
ALL NEW JERSEY LANDLORD’S MAY SOON BE PROHIBITED FROM REQUIRING ELECTRONIC RENTAL PAYMENTS
By December 7, 2023 Posted in Landlord/Tenant Law Share
Currently, New Jersey state law prohibits some landlords from requiring residential tenants to pay rent and other related charges through electronic funds transfer; landlords must provide receipts for cash payments. Under the current statute, a landlord is:
U.S. Supreme Court Denies Certiorari in New York City Rent Control Challenge—What Does This Mean for Rent Control Laws?
By October 13, 2023 Posted in Landlord/Tenant Law Share
On October 2, 2023, the United States Supreme Court issued final orders that it will not consider petitioners constitutional challenge to New York’s amended rent-stabilization law. Cmty. Hous. Improvement Program v. City of N.Y., No. 22-1095, 2023 U.S. LEXIS 3080, 2023 WL 6379013 (Oct. 2, 2023).
New Jersey now requires sellers of real property and landlords to make certain notifications regarding flooding.
By June 8, 2023 Posted in Landlord/Tenant Law Share
New Jersey now requires sellers of real property and landlords to make certain notifications regarding flooding. The New Jersey Senate recently introduced Senate Bill No. 3110 to recognize the importance of flood awareness and protection for both landlords and tenants. This bill, if enacted, would require landlords to make specific notifications about flooding to tenants. Landlords would be required to disclose whether the property is in a flood hazard area as designated by the Federal Emergency Management Agency (FEMA). Additionally, landlords would be required to inform tenants if the rental property is situated in a flood-prone zone.
If you need assistance ensuring you are acting conformity with this law or require assistance updating your policies, we, at Griffin Alexander, P.C., can help. Our attorneys are experienced in all aspects of Community Association and Landlord-Tenant law. We can help ensure that your property remains in compliance with the advent of this new law.
If you need assistance ensuring you are acting conformity with this law or require assistance updating your policies, we, at Griffin Alexander, P.C., can help. Our attorneys are experienced in all aspects of Community Association and Landlord-Tenant law. We can help ensure that your property remains in compliance with the advent of this new law.
The information in this Client Alert is provided solely for information purposes. It should not be construed as legal advice on any specific matter and is not intended to create an attorney-client relationship. The information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular circumstances. Each legal matter is unique, and prior results do not guarantee a similar outcome.
ATTORNEY ADVERTISING MATERIAL © 2022 Griffin Alexander, P.C. All rights reserved.
New Jersey Will Prohibit Late Penalties Against Senior Citizens in Some Situations
By June 8, 2023 Posted in Landlord/Tenant Law Share
New Jersey Will Prohibit Late Penalties Against Senior Citizens in Some Situations After unanimously passing the Assembly, Bill A-1498 (S-942) will now head to the Senate, where a previous version was also passed unanimously. The bill requires owners of affordable senior communities to waive late fees incurred by senior tenants for rent that comes due during a period of hospitalization, plus five days thereafter. To qualify for the late fee waiver, a tenant must provide written proof that they were admitted to the hospital for the relevant period. If rent payment is not remitted within five business days following discharge, any late charge permitted under the law may then be imposed.
If you need assistance ensuring you are acting conformity with this law or require assistance updating your policies, we, at Griffin Alexander, P.C., can help. Our attorneys are experienced in all aspects of Community Association and Landlord-Tenant law. We can help ensure that your property remains in compliance with the advent of this new law.
The information in this Client Alert is provided solely for information purposes. It should not be construed as legal advice on any specific matter and is not intended to create an attorney-client relationship. The information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular circumstances. Each legal matter is unique, and prior results do not guarantee a similar outcome.
ATTORNEY ADVERTISING MATERIAL © 2022 Griffin Alexander, P.C. All rights reserved.
DEADLINES APPROACH: A NEW LAW IS COMING INTO EFFECT THAT REQUIRES NJ BUSINESSES AND RENTAL UNIT OWNERS TO MAINTAIN LIABILITY INSURANCE
By December 7, 2022 Posted in Landlord/Tenant Law Share
You may recall that, on August 5, 2022, New Jersey’s Governor Murphy signed S. 1368/A. 2687 (2022) into law. This law (which has since been codified as N.J.S.A. § 40A:10A-1 et seq.) requires landlords and business owners to procure and maintain liability insurance for negligent acts and omissions. As we explained in our previous breakdown and summary, much of this law came into effect on November 3, 2022, while the remainder of its sections will become effective on February 1, 2023.
New Jersey Now Requiring Landlords to Maintain Liability Insurance
By November 8, 2022 Posted in Landlord/Tenant Law Share
On August 5, 2022, New Jersey’s Governor Murphy signed S. 1368/A. 2687 (2022) into law, which has since been approved as P.L.2022, c.92 and codified as N.J.S.A. § 40A:10A-1 et seq. Much of this new law took effect on November 3, 2022, however, some of it has yet to come into effect. It requires business owners—specifically, rental unit owners and certain multi-family homeowners—to maintain liability insurance.
FANNIE MAE AND FREDDIE MAC NEW LENDER REQUIREMENTS FOR CONDOMINIUM AND COOPERATIVE PROJECTS
By January 18, 2022 Posted in Community Association Law Share
On June 24, 2021, tragically the Champlain Towers South condominium in Surfside, FL, collapsed. Investigation revealed that construction defects, long-term water infiltration, and years of deferred maintenance may have all led to the collapse and the death of 98 people.
NEW JERSEY LEGISLATURE ALLOWS COMMUNITY ASSOCIATIONS REMOTE MEETINGS TO CONTINUE
By January 17, 2022 Posted in Community Association Law Share
On December 20, 2021, New Jersey’s Legislature passed S. 4112/A. 5549 (2021); and, on January 10, 2022, Governor Murphy signed the bill into law. The law, while short, is immensely helpful to Community Associations throughout the state, many of which have adapted to the new remote meeting procedures previously permitted during the COVID-19 State of Emergency.