Small, community-focused landlords operate many rent-stabilized and Section 8 units under strict rent limits and oversight, limiting revenue while operating costs rise. Evictions impose long, costly legal processes that often leave landlords covering taxes, utilities, insurance, and mortgage payments while tenants remain in apartments without paying. Minimal regulated rent increases and COVID-era nonpayment, eviction moratoria, and court backlogs created severe financial strain. Broad policies that treat all landlords the same risk pushing small owners to exit, enabling banks or corporations to acquire buildings. Policy solutions should remove exploitative actors while supporting responsible owners to preserve stable, locally owned housing.
We don't own fair-market apartments. We manage 100 units across two buildings in the Bronx, all of which are rent stabilized or occupied by Section 8 tenants. That means we already operate under strict rent restrictions and oversight. New York's "Good Cause Eviction" law doesn't directly impact our business, but the mindset behind these sweeping policies is spreading, and it's setting up the entire housing market for worse outcomes.
People think landlords love to evict tenants. We don't. Eviction is a nightmare; it means months, often over a year, of paying legal fees and going to court, all while the tenant remains in the apartment without paying rent. Even after court approval, we often wait months for a marshal to enforce it. During that time, we still pay taxes, utilities, insurance, and the mortgage.
Lately it seems like "landlord" has become a dirty word in New York City, and all of us, good and bad alike, are being painted with the same broad, hostile brush. I'm a Democrat living in Manhattan, and my husband and I have always believed in fair housing, treating tenants with dignity, and keeping the city vibrant. Yes, some landlords are greedy and irresponsible.
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