After a chaotic legislative session, the legislature amended §282-a of the Loft Law to reinstate the application period. This erases the prior application deadline of March 11, 2014. Now, loft tenants have until June 2017 to file coverage applications.

Tenants, however, should not delay filing. To establish coverage tenants still must prove occupancy during the “window period,” January 1, 2008 through December 31, 2009.  Unless the tenant applying for coverage was living in the apartment at the time, it is going to mean tracking down the window period tenants. Given that 2008 is now seven years, finding those tenants — and hoping they have relevant documentation from the window period — is becoming increasingly difficult with the passage of time. Waiting another two years will only make this quest more difficult.

 

June 30, 2015