New Airbnb Law, Building Registration Process BY: NANCY L. KOURLAND, ESQ. On February 3, 2023, the rules implementing NYC’s Local Law 18 “Short-Term Rental Registration Law,” were published by the Mayor’s Office of Special Enforcement (“OSE”) and it looks like they may be the most effective tool to date to combat illegal short-term rentals in New York City in residential condos, co-ops and rental buildings. The Short-Term Rental Registration Law was passed last year by the New York City Council and the newly published rules go into effect on March 6, 2023. The rules require anyone seeking to rent out housing in New York City for fewer than 30 consecutive days to register with the OSE, obtain a registration number, and display that registration number on their listing. The new law prohibits sites such as Airbnb, VRBO, Booking.com from posting listings for unregistered short-term rentals. Read the Full Article Duties and Breach of the Fiduciary Relationship, Including Confidentiality BY: ANDREW A. BARANETSKY, ESQ. As you might have read in our previous Business Judgment Rule article, in business there is a special relationship between parties that is created when one party, a fiduciary, has a duty to act for or give advice, usually for financially related matters, to the benefit and reliance of another party, a beneficiary. This fiduciary relationship exists in some form in almost every type of business from corporations and non-profits to real estate and trusts. Common examples of this widely prevalent business relationship are a director running a corporation on behalf of its shareholders or a condominium board responsible for managing a property for its homeowners.

2023 NY Real Estate Market Predictions (Video) BY: STEPHEN M. LASSER, ESQ. Watch the Video ULURP (Uniform Land Use Review Procedure) Explained BY: CHRISTOPHER E. WRIGHT, ESQ. The New York City Zoning Resolution was enacted in 1961 to provide the City with a comprehensive urban planning scheme consisting of different zoning designations based on a property’s location within a neighborhood. The drafters of the Zoning Resolution understood that NYC’s urban landscape would evolve over time. Therefore, an amendment process was incorporated into the Zoning Resolution, no different in concept than the process to amend the United States Constitution. Both are living documents. The Uniform Land Use Review Procedure (“ULURP”) is the mechanism used to amend a property’s zoning designation within the NYC Zoning Resolution. A ULURP rezoning application can have a public or private applicant. Public applications are filed by a city agency often seeking changes to an entire neighborhood to address growth. Private applications are filed by property owners seeking changes to their parcels, usually covering a few blocks.   Read the Full Article

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Lasser Law Group, PLLC 212.292.3075 Slasser@LasserLG.com www.LasserLG.com Attorney Advertising. Prior results do not guarantee a similar outcome. This newsletter and the blogs and articles therein are made available by the attorney or law firm publisher for educational purposes only and to give you general information and a general understanding of the law, not to provide specific legal advice.