NEW ENGLAND REALTY ASSOCIATES LIMITED PARTNERSHIP
For the period ended Dec 31, 2025. Filed Mar 13, 2026.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Mar 13, 2026
What changed in Risk Factors?
Read the current filingPrevious report: 10-K
Period ended 2024-12-31; filed 2025-03-14.
0001558370-25-003015
Item 1A. Risk FactorsCurrent report: 10-K
Period ended 2025-12-31; filed 2026-03-13.
0001104659-26-027586
Item 1A. Risk FactorsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 31 previous paragraphs and 32 current paragraphs.
27 unchanged; 2 reworded; 3 added; 2 removed; 0 previous and 0 current paragraphs rearranged.
Tables are not compared: 27 previous and 27 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (3)
Current report
** A** Massachusetts Rent Control Initiative may be on the ballot** on**** November 3, 2026 **inMassachusetts** as an indirect initiated state statute.** The ballot initiative would establish rent control in Massachusetts, limiting annual rent increases for residential units to the Consumer Price Index (CPI) or 5%, whichever is lower. The annual rent increase limit would be in place whether or not there was a change in tenancy in the rental unit. The initiative states that the rent amount in place on January 31, 2026, would be the base rent on which annual increases are calculated; if the unit was vacant on that date, the most previously used rental price would serve as the base rent. The rent increase limit would exempt owner -occupied buildings with fewer than 5 units; facilities where rent is subject to regulation by other public authorities (though not including those occupied by a tenant with a mobile housing voucher) dwelling units rented primarily to transient guests for less than 14 consecutive days; facilities operated only for educational, religious, or nonprofit purposes; and dwelling units with a date of first occupancy that is less than 10 years old. Our financial condition, results of operations, and cash flows, as well as our ability to pay dividends, could be adversely affected over time if voters were to pass such an initiative.
Current report
** Recent changes to state law may increase our rental expense**. On August 1, 2025, a new Massachusetts state law became effective that prohibits real estate professionals, such as brokers, from charging tenants broker fees for services primarily provided to the landlord. Tenants may still choose to hire and pay for their own broker who will represent their interests in securing rental housing. This change may result in an increase in our rental expense.
Removed paragraphs (2)
Previous report
Development project costs that exceed estimates. We may incur construction costs at the Mill Street development project that exceed our original estimates or experience competition delays due to increased material, labor, or other costs, or supply chain disruptions that could reduce the project’s profitability.
Reworded paragraphs (2)
Previous wording
We are obligated to comply with financial covenants in our indebtedness that could restrict our range of operating activities. The mortgages on our properties contain customary negative covenants, including limitations on our ability, without prior consent of the lender and other items. Failure to comply with these covenants could cause a default under the agreements and, in certain circumstances; our lenders may be entitled to accelerate our debt
Current wording
We are obligated to comply with financial covenants in our indebtedness that could restrict our range of operating activities. The mortgages on our properties contain customary negative covenants, including limitations on our ability, to incur additional debt, without prior consent of the lender and other items. Failure to comply with these covenants could cause a default under the agreements and, in certain circumstances; our lenders may be entitled to
Previous wording
obligations. Defaults under our debt agreements could materially and adversely affect our financial condition and results of operations.
Current wording
accelerate our debt obligations. Defaults under our debt agreements could materially and adversely affect our financial condition and results of operations.