The real estate world adapts its business to the new reality of bedbugs. New laws and a heightened awareness of the problem seem to be affecting the day-to-day dealings of the real estate industry, in ways large and small.
Despite some heavily publicized incidents, bedbugs don’t seem to be rocking the boat too much and leases tend to be longer-term by definition. Therefore there is no remarkable difference when it comes to moving on the commercial side of New York.
New York’s still-low vacancy rate gives landlords the upper hand, even if the freckle-size insects turn up on their premises, according to brokers, attorneys and landlords. [read more]
Source: The Real Deal
