The foregoing does not include leaks due to pipe bursts or plumbing issues. Past history and current flood risk affecting any of the leased premises that arise from natural events such as heavy rain, coastal surges, tidal inundation, or river overflows that the lessor knows or reasonably should know has occurred to such premises and the nature of any such damage.Specifically, Section 231-B requires landlords to provide notice of the following: ![]() The intent of this new legislation is to increase transparency regarding the risk of flood damage and the availability of insurance to incentivize tenants to obtain adequate protection for their apartments or homes. ![]() A condominium unit owner, however, who is leasing his or her apartment will need to comply with the disclosure requirements of Section 231-B. To clarify, because Section 231-B only applies to leases, a condominium board does not have to comply with the new flood disclosures unless the condominium board is leasing out one of the condominium apartments. Accordingly, Section 231-B currently applies to all proprietary leases between coops and their shareholders, subleases between shareholders and their subtenants, and leases between boards/unit owners in condos and their tenants. The new law’s reference to residential leases does not carve out cooperatives (coops) or condominiums (condos). Effective immediately, Section 231-B of New York Real Property Law (Section 231-B) has been amended to require that every existing and prospective residential lease provide a notice to the tenant related to the leased premises’s flood history and risk of flooding.
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