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Updated over 5 years ago, 06/24/2019
New strict NYC Rent Stabilized laws- How can we make $$. now?!
It seems that the new Rent Stabilized bill that was signed into law last week by the Governor makes it impossible to make money off rent and do a condo conversion. Any ideas?
Now "51 percent of tenants in the building must agree to purchase apartments before the conversion can be effective. It USED TO BE 15 PERCENT. Meaning we have to by out more than 3 times as many people to convert it to condos as its too hard to make money from rent"
Jay Hinrichs
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Jay Hinrichs
#4 All Forums Contributor
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#4 All Forums Contributor
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- Lake Oswego OR Summerlin, NV
wow that is going to be a tall order
- Jay Hinrichs
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@Jay Hinrichs Yes it is designed to prevent conversions but they out an end to rent increases. This why we need a balanced government. I'd love to hear from other NYC landlords if there are any
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