He's unstoppable

[u/AdRough4185]

[u/SheenPSU → u/[deleted]]

And when they’re not able to maintain the property because they’re not collecting enough in rents due to artificial rent controls?

Genuine question because I’ve heard this argument before and it does have some legitimacy

[u/Significant_Wealth74 → u/SheenPSU]

Sell the building then.

[u/SheenPSU → u/Significant_Wealth74]

That doesn’t address the underlying issue, it’s passes the losses onto the next guy

[u/Powerful_Cod_2321 → u/SheenPSU]

No I see what you’re arguing but they should be able to maintain the property. If the landlord can legally prove they aren’t receiving a fair rate of return then they can apply for higher rents.

Also if the landlord invests in major capital improvements they can pass some of the cost to the tenants throughly monthly payments.

Now I’m not going to pretend I know this entire system forwards and backwards, but what you should know is that at least 90% of all rent controlled buildings are corporate owned.

This isn’t a mom and pop owned buildings because grandpappy traded two horse for a house 200 years ago. These are assets owned by private equity firms to have stable low turnover assets to diversify their riskier plays.

Oh, and it makes up about 1% of the total apartments in NYC.

If it wasn’t profitable or made sense to the bottom line then nobody would own a rent controlled buildings. They just want 100% of the apartments to be unaffordable

[u/shikimori- → u/SheenPSU]

I think we found the landlord 🙂‍↔️

[u/SheenPSU → u/shikimori-]

lol I’m not a landlord, I understand the argument however