Not only is marijuana cultivation, distribution and possession still illegal under federal law, causing many commercial landlords to be reluctant to rent to a tenant in that industry, all marijuana sold for recreational and medicinal use in New York must be grown and processed within the state. (Credit: Tunatura/Shutterstock)
Under the Marijuana Regulation and Taxation Act (MRTA), the legalization of cannabis products in New York went into effect March 31, 2022. It is expected to become one of the largest regulated cannabis markets in the U.S., with a projected $4.2 billion in sales within five years. However, regulations and licensing details are still emerging, which has left both residential and commercial landlords confused when it comes to the substance's use on their properties.
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