Landlords Fight Back

As promised, statistics show landlords are not renovating stabilized apartments (44% less) due to the new rent laws, a $71M decrease. “The new law removed the incentive to do upgrades beyond the minimum,” said landlord Frank Ricci, who heads government affairs at the Rent Stabilization Association. This means lower quality of life for tenants, lower income for landlords, and less spending which we all know adds to the local economy.

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