New York Gov. Andrew M. Cuomo signed an executive order today that extends the state’s moratorium on coronavirus-related commercial evictions and foreclosures through Jan. 1, 2021.
The measure extends protections already in place for commercial tenants and mortgagors in recognition of the financial toll the pandemic has taken on business owners, including retail establishments and restaurants.
Cuomo says that this extension will give commercial tenants and mortgagors additional time to get back on their feet and catch up on rent or their mortgage, or to renegotiate their lease terms to avoid foreclosure moving forward.
“The health and economic impacts of this pandemic have been devastating, and we are continuing to do everything we can to support people who are suffering,” Cuomo said. “We are going to extend the commercial eviction and foreclosure moratorium through January 1st. That will now align with our residential eviction moratorium so they are both extended to the same date.”
Cuomo first announced a state moratorium on residential and commercial evictions on March 20 for a period of 90 days to ensure no tenant was evicted during the height of the public health emergency. The commercial eviction and foreclosure moratorium was later extended through Aug. 20, Sept. 20 and Oct. 20 by executive order.
Cuomo signed the Tenant Safe Harbor Act on June 30, which became effective immediately as well as additional legislation providing financial assistance to residential renters and landlords. Additionally, previous executive orders have prohibited charges or fees for late rent payments, and tenants facing financial hardship can still use their security deposit as payment and repay their security deposit over time.
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