What is an Escalation Clause (AKA Escalator Offer) and How does it Work?

In case you don’t know what this is, here’s the skinny: A buyer, hoping to beat out all other offers, will include an escalation clause in the offer that reads something like, “Buyer to beat all competing offers by $1,000 up to a price of $700,000. Seller to provide copies of competing offer to buyer […]

What you need to know about Preferential Rents

Source: Housing Stability & Tenant Protection Act (HSTPA) of 2019 A preferential rent is a rent which an owner agrees to charge that is lower than the legal regulated rent that the owner could lawfully collect. Pursuant to the Housing Stability & Tenant Protection Act (HSTPA) of 2019, tenants that were paying a preferential rent as […]