Hey Gang,
I've been speaking a broker of a possible disposition of a 60/40 FM/RR building we own. Now the questions is of all the land lord ways to raise revenue which investment strategy is on the chopping block?
MCIs
MCI's scaled back 7-years
Vacany decontrol elimination
Pref Rent increase
IAIs
Now to me, if you want to start about affordable housing Rent Regulation is a joke. Aside from section 8 and SCRIE designations, the artificially lower rent is not needs based at all. I know a tenant who has payed 1800 for a 3500+apartment and has been out of work for 5-years. She clearly has family money, so why is she getting such a big break?
It seems like the laws are pretty well balanced in that landlords have not made crazy profits, since the cost of expense has risen. These new laws are forcing the smaller owner out who maybe does not push rents as had as a vacancy is real hit in income.
But, how does the city intend to what would essentially decrease the value of thousands of buildings and then increase taxes on these buildings.
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