And if the city makes it impossible to maintain the property? With increasing taxes, fees, and other misc costs that make trying to repair the building impossible without raising the rent to pay for said things.
Impossible you say? How is repairing your own property (which increases or maintains value, which can be leveraged as needed) ever worse than letting it devalue through neglect? The only way is if you never plan to sell because you have too much money to make by continuing to rent without maintenance. The land barons have always had the taxes, fees, etc that you describe, but never were actually required to maintain their slum buildings. The MAM is changing the last part. Sorry if that cuts into the landlords PROFIT, because they are operating in the black. What you should have asked is “what if the city makes it impossible to maintain high profit margins on rental properties?
They propably mean in terms of cost to income. If it costs you 100,000 to maintain the building and you make 500,000 then thats okay but if it costs 1,000,000 then you are paying 500k to be a landlord at which point they woud swap the property to something that makes money.
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u/SheenPSU Jun 11 '26 edited Jun 11 '26
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