September 2019 Update
Legal Aid Budget Continues to Soar With No End in Sight

New York city is the first city in the United States to enact a law making legal assistance available to all tenants facing eviction in Housing Court. In the last quarter of the 2018 fiscal year, 30% of tenants appearing in Housing Court for eviction cases were represented by attorneys in court, a substantial increase from the representation rate for tenants of 1% in 2013. As shown by the table above, NYC invested more than $142 million in civil legal services in FY2018, and in FY2019, increased total City funding or civil legal programs to $171 million, representing historical high points for both Mayoral and City Council discretionary funding for civil legal programs.  
Legal Aid service groups generate income based on the caseload of each of their attorneys. As such, they are incentived to commence as many cases as possible. The last industry cycle represented a historic peak of landlord-initiated Housing Court actions. However, the passage of the Housing Stability and Tenant Protection Act of 2019, combined with the steady increase in the legal aid budget, may result in a peak of tenant-initiated actions.  
Real Estate REality Check Podcast Episode 42:
Robert Sedaghatpour
"While it's a doom and gloom world these days within our industry and within this subsect, [and] within the city - things change, opportunities change, needs change, and when there's problems, there's also new opportunities." - Robert Sedaghatpour (at 32:34)

Click here to listen to the full episode

New Property Management Services 
In an ongoing effort to further service the needs of our clients, STRATCO is pleased to announce the formation of a new property management company.
Our team of seasoned experts are uniquely qualified to ensure that our clients properties are in total compliance with the new laws and and know how to best move forward in a changing landscape.  With a core competency in navigating the regulatory complexities, we are able to serve those clients who don't have the bandwidth and know-how to deal with today's industry.   
Click here for the brochure outlining our full list of services.
Please do not hesitate to reach out for additional info or a free consultation.  
Helpful Links
  1. To view historical newsletters on STRATCO'S Thought Leadership, click here
  2. If you are part of an investment sales office, and request an office level presentation on the new law changes, click here
  3. To reach STRATCO regarding any other matter, click here
  4. To learn more about the recent rent law legislation, click here
List of Services
Property Management                                     Property Due Diligence

Tenant Relations                                                CONH Applications

Legal Management                                            Strategy Advisory

Disclosure of Services
STRATCO does not serve as an attorney and does not provide legal advice.   STRATCO functions as a management consultant on executing highly complex business strategies.  STRATCO functions as an intermediary with client's legal counsel in order to effectuate risk mitigation and regulatory compliance.

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