NY Universal Rent Control Bill introduced

[Jolene Trimm]

Julia Salazar has 2 bills in the NY Senate committee- one for Good Cause eviction and another that makes rent control apply to ALL apartments in ny state including an automatic lease renewal of 1 or 2 years. I was thinking of buying my first owner occupied 2 family in Queens, NY this year and renting to a tenant- would this be a bad idea if this bill passes ?

https://www.nysenate.gov/legislation/bills/2019/s2891

https://www.nysenate.gov/legislation/bills/2019/s2892

[Pat L.]

In my reading I came across the best summation of the rent control debacle ....

Swedish economist Assar Lindbeck once wrote, “In many cases, rent control appears to be the most efficient technique presently known to destroy a city — except for bombing.”