Final Rules published and the countdown begins!

On Sept 11th 2013 the NYC Loft Board published the final rules governing buildings covered by the Loft Law. These rules affect tenants covered under the 2010 expansion and 2013 amendment, as well as those covered under the original law. (Changes are minimal for “old Loft Law” buildings, except for the reduction in the milestone increases.)

With the rules published, the six-month clock has started ticking for tenants and landlords to apply for Loft Law coverage. The final deadline is March 11, 2014! If a unit is not registered by that time it may not be eligible for coverage. However, since coverage goes with the unit, it will still be possible for landlords to amend their registrations to reflect new tenants, or for tenants to apply to become the protected occupants of covered units, after that date.

Tenants can empower themselves by familiarizing themselves with the rules and the timetable which applies to their building.

Check the Loft Board announcement for the compliance deadlines for your building, which depend on which law, 281(1) through (5) or 281(5) 2013, covers your building.

12 of the 15 amended rules can be found on the NYC RULES site (filter by NYCLB). For Rules 2-01, 2-03, and 2-08, the best source for the rule amendments seems to be the August 12 edition of the City Record.