to make a profit. But then came 2019 tenant protection laws that reduced landlords’ ability to raise monthly rates on stabilized units and spoiled the business model.
after the 2019 laws prohibited them from raising rents on vacant units or lifting apartments out of stabilization and onto the open market.the state to adjust the laws “Rather than adapt to those changes, what they did is they've essentially abandoned dozens of buildings, hundreds of apartments they've abandoned and left to deteriorate,” Blazej said at the meeting.
Diagne said he moved from his native Senegal to Harlem in 1995 and soon found the two-bedroom apartment. He said he now pays around $1,200 a month. “Every weekend, every Friday there’s no hot water,” Pinckney said, before listing a litany of additional problems. “Heat. A rodent came through my window. Management constantly changes. Intercom is broken. Doors don’t work. You can’t get in the building … It’s ridiculous.”
Just shows we need even stronger protections for renters. The city should have stepped in and given control of the properties to a non profit after the first hundred or so violations from these awful predatory landlords.
Good mng. What do mortgage payments have to do with gas ?