The erroneously named Good Cause Eviction Bill, now in the New York Legislature, would impose rent controls on market-rate buildings in the five boroughs — and crush many small, immigrant and minor…
Socialist-minded legislators in Albany won’t quit until they bankrupt every apartment-building landlord in New York City — and make the housing crisis even worse than it is.rent controlsThe reversal of generations-old policy would drive small, immigrant and minority-group landlords out of business and leave their buildings at the mercy of well-heeled real-estate companies hoping to demolish them for new construction.
Owners were already reeling from the fraudulently-named Housing Stability & Tenant Protection Act of 2019, which severely curbed their rights to raise rents in order to pay for repairs in the Big Apple’s 2.4 million rent-stabilized and rent-controlled units.Stephen YangAs of 2021, the city’s Department of Housing Preservation and Development reported approximately 43,000 vacant rent-stabilized units.
Challenges by landlords, meanwhile, would likely go nowhere. The state has absolute legal authority, New York’s constitution, to regulate housing including market-rate apartments. Brooks said if she can’t set rent prices that make sense against her costs, “Am I the real owner or not?”“The bill’s name is a misnomer,” said Brooklyn landlord Redhead. “A lease expiration is not eviction, but simply the end of a contract.”
Valentina Gojcaj, whose Albanian family came to America by way of the former Yugoslavia, owns two small buildings in the north Bronx and said the bill will hurt her.
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