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re: NYC officially approves a rent freeze for up to 2 years
Posted on 6/26/26 at 7:31 am to MFn GIMP
Posted on 6/26/26 at 7:31 am to MFn GIMP
quote:
Or is it, the more likely scenario, where landlords can't raise rent after the lease term is up and a new one is being signed or has gone month-to-month? The way the article is phrased is confusing.
Sounds like at renewal
quote:
NEW: New York City’s Rent Guidelines Board voted 7-1 to approve a 0% rent increase for roughly 1 million rent-stabilized apartments, delivering on one of Mayor Zohran Mamdani’s signature campaign promises.
The freeze applies to both one-year and two-year lease renewals beginning October 1. Tenant advocates hailed the vote as a major affordability victory, the Associated Press reported, while landlord groups signaled legal challenges.
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Posted on 6/26/26 at 7:33 am to RLDSC FAN
Are these for all apartments? Only new ones?
Eta: guess if it's on renewals it's not just for new ones. Wonder if it's ALL or only for units built before a certain year like some places have done before
Eta: guess if it's on renewals it's not just for new ones. Wonder if it's ALL or only for units built before a certain year like some places have done before
This post was edited on 6/26/26 at 7:35 am
Posted on 6/26/26 at 7:35 am to wareaglepete
quote:
If they can do this, why can't they go to your business that you own that sells widgets and tell you, no you can't raise prices on widgets,
The Sherman Anti-Trust laws make every price illegal if the government has you on its radar. Price too high? Gouging
Price too low? Dumping
Price the same? Collusion
Posted on 6/26/26 at 7:37 am to RLDSC FAN
quote:As is always the case, will lead to housing shortages
NYC officially approves a rent freeze for up to 2 years
Posted on 6/26/26 at 7:45 am to Vandyrone
quote:
It’s amazing how many useful idiots are just applauding the destruction of these large cities and our country.
Because in their minds, they are taking down the enemy. The enemy is their fellow American that they have been trained to hate since birth.
I'll never forget watching all of the young females making jokes about bringing the Caliphate to NY just to spite their "MAGA Family members" after the election.
Now you have "feminists" donning the hijab and bowing down to Mimandi and others like him. All of this to "spite" Trump in their insane minds.
It is amazing to watch this. They will willingly subjugate themselves because they think it hurts their friends and families.....all while they say YOU are in a cult.
Posted on 6/26/26 at 7:56 am to RLDSC FAN
Did they also put a freeze on utility costs, maintenance costs, insurance costs, property taxes etc?
Posted on 6/26/26 at 8:02 am to Everyday Is Saturday
quote:You don’t need to have visited NYC to know that rent freezes are bad ideas. The landlord gets absolutely fricked because I guarantee that their expenses for the unit don’t get frozen. Hasn’t Mamdami been floating property tax increases? Insurance tends to go up every year. Costs for maintenance and repairs doesn’t get cheaper. Most landlords have mortgages. Its not like most landlords are cash flowing these massive amounts of money every month. You mostly just have to hope the monthly rent covers the mortgage, taxes, insurance, maintenance, and a little bit of profit to make the risk and headaches of being a landlord somewhat worthwhile.
About 10 posts before someone who has actually been to NYC and thinks for themselves makes a post…Fox News algorhythm must be on high.
Same principal applies whether its NYC, NOLA, or anywhere else
Posted on 6/26/26 at 8:02 am to BigAL Golesh
quote:
it will be a 3rd world shite hole in 20 years
less.....
Posted on 6/26/26 at 8:06 am to LNCHBOX
doing a bit of a/I review of rent stabilization impact on the property owner. About 47 % of NY apps are rent controlled. All of the damage from rent control loss of profitability yes to the owner, who has 3 options cut maintenance, fire sale, or foreclosure. That means as soon as cash flow seems to be going negative getting value out of the property has to happen fast. The business falls off the economic cliff really fast and there is no support mechanism for the owner.
Posted on 6/26/26 at 8:07 am to WestCoastAg
It’s for rent-stabilized apartments.
Posted on 6/26/26 at 8:09 am to wareaglepete
quote:
ou are not free in this country. Not by a long shot. You don't really own anything, you just get to say you own it as long as the government doesn't want it.
I would be curious if the city plans to freeze property tax hikes on these apartments for the two-year period?
Posted on 6/26/26 at 8:11 am to RLDSC FAN
Lots of apartment buildings going up for sale. The money is leaving NYC.
Posted on 6/26/26 at 8:17 am to LurkerTooLong
Tenant power??
Posted on 6/26/26 at 8:22 am to RLDSC FAN
No matter what, NY floors Louisiana.
Posted on 6/26/26 at 8:27 am to ATrillionaire
Posted on 6/26/26 at 8:28 am to Aubie Spr96
quote:any time the govt tries to make something more affordable it becomes less affordable and lesser quality and availability
Gov’t price controls. What could go wrong?!?
Posted on 6/26/26 at 8:30 am to Everyday Is Saturday
quote:
about 10 posts before someone who has actually been to NYC makes a post
You pussies think you are so clever. I lived in NYC for a year. Easily on the bottom of the big cities I have lived in. That was 17 years ago. No way it's gotten any better .
Posted on 6/26/26 at 8:48 am to NolaLovingClemsonFan
quote:
fix what’s going on in NYC for anything close to affordable rent.
You live in New Jersey or Long Island. That wasn't hard. Do you think the vendors running the hot dog stands live in Manhattan where they park their cart?
Posted on 6/26/26 at 8:50 am to Cregg
quote:
I lived in NYC for a year. Easily on the bottom of the big cities I have lived in. That was 17 years ago
You must be pretty lame.
Posted on 6/26/26 at 8:51 am to Mo Jeaux
quote:
you must be pretty lame
How so?
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