You should see the new LAWS for landlords in NYS. Absolutely ridiculous. Tish James has seen to it that tenants have 100% of the rights and 0% responsibility. They alone determine whether they will stay in the unit or not. We still have rentals and property we are rehabbing for rentals but boy, the tenant pool is 6 miles wide and 1 inch deep.
Reason for moving? Landlord is selling and bailing out of the housing provider business (because of all the new laws).
Insurance and utilities are through the roof as well as maintenance costs/building supplies not to mention taxes. And THAT’S why rents are sky high.
A friend of mine owned a rental building 15 years ago and the crap he had to go through was absolutely the stuff of nightmares, I would NEVER EVER EVER EVER EVER in a billion years EVER own a rental property in NYC, I would rather sit through an eternity of Hillary Clinton speeches.
I remember it took him THREE years to evict a tenant who wasn’t paying rent, and at the end of those three years he didn’t get a DIME, just the agreement by the tenant to move out! How insane is that?? THREE years of rent GONE, meanwhile he had to pay the taxes, the repairs, the tenant was a pig and heavy smoker and the apartment looked like a bomb hit it.
The best was the tenant who lived on the top floor (building was 4 stories high)_She was a massive drunk and had the habit of leaving the stove on while passing out drunk. Well finally she started a fire and of course she escaped completely unscathed, and when the firemen came and put out the fire using water hoses, all the water of course went into the apartments below and behind the walls washing out all the cockroaches onto the main hallways stairs, millions of them, and guess who had to fix everything?
NEVER in a millions years would I go through that hell. You should sell everything and get out before it’s too late as I imagine it’s a million times worse now.
What did you mean the “the tenant pool is 6 miles wide and 1 inch deep”?? Meaning a lot of people are looking for apartments?
I can imagine a lot of them are the usual leftists a-holes from out of state, those are the vermin that destroyed that city. They watch TV shows and think NYC is some fantasy utopia and then they get here and realize it’s hell in disguise so they walk around angry all day and then basically lose their minds.