News
Builder Confidence “Holds Firm” According to NAHB Report
Current Market Conditions Component rose two points from the previous quarter to 55 according to a recent NAHB report. ❖ Major Additions and Alterations increased four points to 53; ❖ Minor Additions and Alterations and the Home Maintenance and Repair Components both held steady at Read More »
The Westchester County Rent Guidelines Board Approves Increases of 1.75% & 2.75%
The Westchester County Rent Guidelines Board recently decided on guideline increases for renewal leases affected by The Emergency Tenant Protection Act (ETPA). Owners and Managers of ETPA properties are mandated by the board to issue a 1.75 percent increase for a One-Year Lease Renewal. For Read More »
2019 New Rent Laws Summary
To read the summary of the 2019 New Rent Laws, please click this link: https://www.buildersinstitute.org/wp-content/uploads/2019/06/AOAC-RSA-SUMMARY-ON-2019-NEW-RENT-LAWS.pdf
New Rent Guidelines Announced
*Guidelines for Renewal Leases between October 1, 2019 and September 30, 2020* 1-Year Lease Term: 1.75% 2-Year Lease Term: 2.75% No discussion was held by the board related to Guideline increases where the Owner does not provide heat or hot water. We will update you Read More »
Renewal of NY State Rent Regulations- Not Fair To Landlords
Under the new legislature, with the 2019 renewal, look for the (IAI) Individual Apartment Increase to be lost or limited, as well as the loss of limitation of building wide Major Capital Improvement (MCI) Increases. Read more in the February/March issue of Impact https://www.buildersinstitute.org/wp-content/uploads/2019/03/Impact_FEBMAR_20190325.pdf
Lower Interest Rates Stabilize Builder Confidence
Due to falling mortgage rates, builder confidence in the market for newly-built single-family homes rose two points to 58 in January on the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). Read more in the February/March issue of Impact https://www.buildersinstitute.org/wp-content/uploads/2019/03/Impact_FEBMAR_20190325.pdf
Supply-Side Headwinds Limiting Single Family Gains in 2019
While speaking at the NAHB Home Show in Las Vegas, Chief Economist Robert Dietz stressed that a chronic lack of construction workers, shortage of buildable lots, onerous regulations, tariffs on lumber and other key building materials as well as a slow growth in acquisition, development and Read More »
The BRI Agrees to A New Labor Contract with SEIU Local 32-BJ
Termed as “a note worthy victory for employers,” the BRI recently agreed to a new labor contract with SEIU Local 32-BJ. This agreement runs from October 1, 2018- September 30, 2022 A summary of the contract can be found by clicking on this link: https://buildersinstitute.org/bris-collective-bargaining-group-contract-summary/ Read More »
Westchester County & Co-op Council Clash & then Come to A Compromise
The Board of Legislators approved the compromise cooperative bill at its General Session on Nov. 19th. It passed with a 13-4 vote. To read more click this link https://www.buildersinstitute.org/wp-content/uploads/2018/11/Impact_SEPTOCT_20181120.pdf
NY State Imposes Sexual Harassment Policy Adoption & Training for All Employers
Effective October 2018, all employers in NY must adopt a Sexual Harassment Policy & must complete Sexual Harassment Training by April 2019. To read more:https://www.buildersinstitute.org/wp-content/uploads/2018/11/Impact_SEPTOCT_20181120.pdf
Builders Institute Launches Its New Radio Program on AM 970 The Answer
The Builders Institute/Building and Realty Institute of Westchester and the Mid-Hudson Region (BI/BRI) recently launched the first broadcast of its new radio program on AM 970 The Answer (WNYM). Called “ opens in a new windowConstructive Conversations with The Builders Institute (BI)”, the show is hosted Read More »
Another Successful Golf Outing for the BRI
The weather was questionable early on but it turned out to be a perfect day for golf. This was our 2nd year at the beautiful GlenArbor Golf Club where the scenic view and the floating green competition made it more enjoyable. Click this link for Read More »