A group of Montclair landlords has sued to overturn a new rent control ordinance in the township, alleging the governing body took action in the midst of the COVID-19 crisis when opponents could not fully mobilize against the measure.
Hammer: Eviction moratorium comes with ‘big fear’ for multifamily owners
Alan Hammer is not only a commercial real estate attorney with nearly 50 years of experience, but a self-described “hands-on” apartment operator in New Jersey and Pennsylvania. Simply put, he’s all too familiar with the dilemma that landlords in the region will face on the first of the month and beyond, with moratoriums on evictions during the coronavirus crisis.
Real Estate NJ’s 2020 Market Forecast
A new year is upon us, bringing new opportunities and new uncertainty for New Jersey’s commercial real estate market. To make sense of it all, we recruited some of the industry’s most influential professionals, developers and thought leaders to share their predictions for the year ahead. You can find those insights and more in our special 2020 Market Forecast.
Continued strength for multifamily
The tax reform package is widely seen as a boost to the already thriving apartment sector. At the very least, experts say the changes could delay an existing renter’s decision to transition to homeownership, although many stopped short of saying that it would have dire effects on the for-sale market.