Company: CLPR
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0001437749-25-003988
Chunk: 13

Company: Clipper Realty Inc.
Filing Date: 2025-02-14
Form: 10-K
Item: Item 1A
Chunk 13
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 space arrangements;
●   the inability or unwillingness of our tenants to pay rent increases, or our inability to collect rents and other amounts due from our tenants;                                                                                                                                                                                                                                                                 
●   significant job losses in the industries in which our commercial and/or retail tenants operate, and/or from which our residential tenants derive their incomes, which may decrease demand for our commercial, retail and/or residential space, causing market rental rates and property values to be affected negatively;                                                                                      
●   an oversupply of, or a reduced demand for, commercial and/or retail space and/or apartment homes;                                                                                                                                                                                                                                                                                                              
●   declines in household formation;                                                                                                                                                                                                                                                                                                                                                                               
●   unfavorable residential mortgage rates;                                                                                                                                                                                                                                                                                                                                                                        
●   changes in market rental rates in our markets and/or the attractiveness of our properties to tenants, particularly as our buildings continue to age, and our ability to fund repair and maintenance costs;                                                                                                                                                                                                     
●   competition from other available commercial and/or retail lessors and other available apartments and housing alternatives, and from other real estate investors with significant capital, such as other real estate operating companies, other REITs and institutional investment funds;                                                                                                                       
●   economic conditions that could cause an increase in our operating expenses, such as increases in property taxes (particularly as a result of increased local, state and national government budget deficits and debt and potentially reduced federal aid to state and local governments), utilities, insurance, compensation of on-site personnel and routine maintenance;                                     
●   opposition from local community or political groups with respect to the development and/or operations at a property;                                                                                                                                                                                                                                                                                           
●   investigation, removal or remediation of hazardous materials or toxic substances at a property;                                                                                                                                                                                                                                                                                                                
 
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●   changes in, and changes in enforcement of, laws, regulations and governmental policies, including without limitation, health, safety, environmental and zoning laws; and
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●   changes in rental housing subsidies provided by the government and/or other government programs that favor single-family rental housing or owner-occupied housing over multifamily rental housing.
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Multifamily residential properties are subject to rent stabilization regulations, which limit our ability to raise rents above specified maximum amounts and could give rise to claims by tenants that their rents exceed such specified maximum amounts.
 
Numerous municipalities, including New York City where our multi-family residential properties are located, impose rent control or rent stabilization on apartment buildings. The rent stabilization regulations applicable to our multifamily residential properties set maximum rates for annual rent increases, entitle our tenants to receive