Transferring properties to the tenants? I’m sure the tenants will begin doing repairs and renovations to the properties post-haste when that happens.
Transferring properties to the tenants? I’m sure the tenants will begin doing repairs and renovations to the properties post-haste when that happens.
Like Zimbabwe taking the land from Farming Whites and giving it to do nothing blacks
Slum lords allowing their properties to fall into disrepair in the first place are why this move by Mamadani will get a lot of traction. If you are a renter with a bad landlord, you literally have no real recourse that doesn't cost a lot of money. And, if you had enough money to pursue a legal remedy, you wouldn't be renting in the first place.
> I’m sure the tenants will begin doing repairs and renovations to the properties… <
A friend of mine had a lucrative contract with a local housing project. The tenants would remove the hallway light fixtures, any copper pipes, etc. - and sell them.
My friend would be called in to make repairs. Then the cycle would repeat.
I will use my psychic powers to predict that the same thing will happen in NYC.
This smells like South Africa. Dispossessing the white farmers. Giving the stolen lands to blacks (persons favored by the regime). No surprise when the new "owners" have no idea how to operate a productive farm on the properties. The properties fall into decay.
That is essentially the core problem. They have artificially repressed rents, and granted more and more "tenants rights", to the point where landlords are no longer making any money on their properties. When that happens, expecting them to invest even more money in making repairs to a property that already is losing them. Money just isn't going to happen.
“Transferring properties to the tenants? I’m sure the tenants will begin doing repairs and renovations to the properties post-haste when that happens.”
only if financed by NYC taxpayers to the tune of 3-4 times the actual cost of any renovations actually performed, with the kickbacks being split between various nefarious governmental and NGO players ...