Michael T. Reilly, a Member of law firm Norris McLaughlin, P.A., participated in the panel discussion “Homesharing and Subletting in the Airbnb Era – New Rules and Best Practices to Protect Your Investment” at The Cooperator Expo New York, Thursday, April 11, at the New York Hilton Midtown in New York.
Reilly discussed the rise of Airbnb and other homeshare platforms and the latest developments in the homeshare economy; how it’s impacting property owners and building administrators in the city; and what you can do to strike a balance between residents’ rights and protecting your property.
The Cooperator Expo New York is one of New York’s biggest co-op, condo, and apartment expos, with more than 300 exhibitors. Attendees get advice from industry experts and network with peers while learning about the latest building services.
Reilly devotes his practice to real estate, construction, finance, landlord tenant litigation, and probate matters. He advises cooperative and condominium boards and homeowner associations on corporate governance, financing, construction contracts, commercial leases, regulatory compliance, utility procurement, and insurance recovery matters. He also provides general counsel advice to not-for-profit corporations that provide supportive housing and social services to elderly, economically disadvantaged, and developmentally disabled residents. He represents corporate entities, individuals, and trusts in the purchase, sale, and lease of commercial properties, condominium units, cooperative apartments, loft spaces, time-share properties, single and multi-family homes, and undeveloped land. Reilly helps owners obtain acquisition financing and negotiate the refinancing and restructuring of underlying mortgages and lines of credit, he advises real estate investors in Internal Revenue Code Section 1031 like-kind exchanges.
In addition, Reilly litigates commercial and residential landlord tenant cases in New York Civil and Supreme Courts. He has represented condominium boards in common charge collection and unit owner default cases, and successfully negotiated with commercial developers and neighboring buildings to secure license, access, and indemnity agreements on behalf of landlords during construction. He regularly appears before city and state regulatory agencies, including the New York City Environmental Control Board, the New York City Department of Buildings, and the New York City Department of Housing Preservation and Development, defending landlords and tenants in municipal, construction, environmental, criminal, fire, and building code violations. He has successfully prosecuted non-primary residence proceedings on behalf of regulated housing landlords.
Reilly received his B.A., Government, from Hamilton College in 1998, his J.D. from Tulane University Law School in 2001, and his LL.M., Taxation, from Boston University School of Law.