If you rent New York City commercial space, the future has been constantly in question since the COVID-19 pandemic began. On March 20th, Governor Cuomo issued the initial eviction moratorium, prohibiting both commercial and residential evictions through June 20th, 2020 in the wake of the onset of the COVID-19 pandemic. In today’s blog post, we look at latest information regarding the Commercial Eviction Moratorium.
In October, Governor Cuomo extended the moratorium through the start of 2021.
It means that landlords and tenants have less than two months to work out existing disputes before some landlords pursue evictions. For most landlords and tenants, there is a compromise that meets the basic economic needs of both sides. As always, litigation is not typically the wisest option. At a minimum, both sides should be exploring creative resolutions short of commercial eviction over the coming months.
Will the commercial eviction moratorium be extended again? That is the hope of many commercial tenants, but we can’t be sure yet. Renters and landlords alike need to be prepared as if December 31 is the end of the negotiating window. For those tenants who want to remain in their space, the time is now to engage and seek a resolution.
At Bergstein, Flynn & Knowlton, PLLC, we pride ourselves on advocating on behalf of our commercial leasing clients, tenants and landlords alike. The firm has recently blended experience from its leasing and litigation departments to resolve rent disputes affecting the entire industry. While no one really knows what the future holds in these unprecedented times, especially with the virus on the rise again, our extensive experience in this field gives us insight and uniquely equips us to help you.
If you need help or have questions about these matters, contact Bergstein, Flynn & Knowlton today. We look forward to hearing from you!