The real estate market has surged in the past few years and the incentive to increase rental income is strong. Investors are seeking to take advantage of the market for more affordably priced one, two, and three-family homes by illegally adding rental units. They, as well as the lawyers representing them, should be wary of New York rules and decisions favoring the occupancy rights and rent payment obligations of tenants in buildings with illegal apartments.
Before advising clients of the law as it applies to the property they are purchasing, attorneys should conduct an extra measure of due diligence in order to provide the most reasonable advice to their clients. This advice is best communicated in writing.
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