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This major pandemic protection for commercial tenants is coming to an end



After more than a year of pandemic-related tenant protections being enacted and extended, one of the major measures from the city is to expire on Wednesday–and this time it will not be renewed.

The legislation set to expire June 30, and known as Intro. 1932, suspended personal liability provisions in leases, which allow landlords to go after tenants’ personal assets if they fall behind on rent.

The City Council had voted in May 2020 to suspend personal liability provisions in leases—a suspension that applied to businesses affected by the pandemic, and the policy initially was to have ended in September. The council later voted to extend this suspension until March 31 and then until June 30. Barring any last-minute changes, this will be the final extension.

CrainsNY

Photo: QNS.com


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