Posted on: May 18, 2025 07:01 PM

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NY is coming with the best Xmas gift attached by love and hearts to tenants

The NY Governor’s Office confirmed starting January 1, 2026, no building owners can install anything related to gas powered operation from generator to boiler for heat and hot water. All buildings must be electric powered for heat, hot water and of course, electric. This means tenants will have to pay all the utilities since separate meters are installed as standard practice on top of cable, internet, food, phone, travel cost to work and of course the best which is rent.

Any money left over, oh well maybe good for a coffee.

That’s a wholesome package the real estate industry campaigned for to sit back and pay nothing, especially no property taxes for affordable housing deals. A bill is in the work also to allow tenants to cough up property insurance as a standard law.

The same law is applied for existing landlords and building owners to allow conversion after next year and the building dept is pleased with the announcement in the coming weeks. More than 3,000 landlords have filed the permits in NYC alone.

The Governor still loves you all with this message, “Starting in October, over eight million New Yorkers will get an inflation refund because it's simple - this is your money and we're putting it back in your pockets,” Governor Hochul said. Thats around $400 or less based on the taxes filed.

Just in time for Merry Christmas.

Enjoy.