Just Cause Eviction New York

[Michelle G.]

Hi,

Small time Suffolk, NY landlord.  My husband and I have 3 single family rentals that we are using as part of our retirement plan.  My concern is the newest bill NY is trying to pass after a huge tenant rights law was just passed last year.  I am in the process of rehabbing a house to rent but honestly I might just decide to sell.  If my understanding is correct (I hope it is not). Selling my home in 5 years when I retire is contingent upon the tenant agreeing to leave.  Essential if they are a good tenant they can stay indefinitely and I can increase rent by 3.5% a year max. I would really like thoughts on this as I am super concerned.

[Scott Wolf]

@Michelle G. If you're selling a rental, you can sell it with the tenant in it.  If you're looking to sell it to an owner-occupier, then yes, the tenant has to leave.  Whether or not you can actually get that tenant to leave is hard to say based on the current wording of the law, and I would ask an attorney.  @Adam Leitman Bailey what are your thoughts?