NY "No Eviction Ever" Bill

Kind of takes away the incentive to pay. They love to say “you will own nothing, and you will be happy”. This is one small increment in the loss of freedom. They will make it so you cannot rent to a qualified candidate next. They will require you to rent to an indigent person based on the triad of race, gender, and class.
 
St. Paul passed an ordinance that rent cannot increase more than 3% annually. Guess what, two major contractors pulled out of projects. I would assume the same would happen in NY if passed.
 
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This is the mindset you're dealing with from what appears an able bodied adult.
 
zool said:
View attachment 121030

This is the mindset you're dealing with from what appears an able bodied adult.
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Able bodied 30 something adult who has plenty of time on his hands to protest landlords while living in his moms basement. I’ll have a skim sugar free vanilla latte please….
 
OllieC said:
Able bodied 30 something adult who has plenty of time on his hands to protest landlords while living in his moms basement. I’ll have a skim sugar free vanilla latte please….
Click to expand...
Dont forget the Soy Milk...
 
My daughter, like probably quite a few on here, owns 6 rental units. Luckily all of her tenants continued to pay but when this all started 2 years ago she was panicked. She owes mortgages on these properties and now the feds are telling the tenants they don't need to pay? So then my daughter applied for the relief loans for small businesses and was told there was no money left. This could have ruined her financially if her tenants had taken advantage of this. These tenants don't realize by the time she pays her mortgages, taxes, insurance, maintenance, and factors in vacancies she is barely making any money. This will be the case until these mortgages are paid off
 
I financially mentor a young kid here and told him I would never become an landlord for this exact reason (government control).
Sister in law had a rental property Massachusetts somewhere and damn near had to burn the house down to get someone who just decided to stop paying rent to leave.
 
OllieC said:
St. Paul passed an ordinance that rent cannot increase more than 3% annually. Guess what, two major contractors pulled out of projects. I would assume the same would happen in NY if passed.
Click to expand...
Despite the consumer price index? So you must rent below inflation? Someone needs to fight this out in the courts.
 
In spite of this my daughter is trying to buy a 30 unit for over $1M...lol. And she is 27
 
boatman37 said:
In spite of this my daughter is trying to buy a 30 unit for over $1M...lol. And she is 27
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She's young and can handle it. Back when I was her age, I was all into "getting into real estate." But after looking at, I figured it really wasn't worth the effort. Who the heck wants to deal with tenants and all the BS, government or otherwise. I did buy the building my company is located in, but they are a pretty good tenant, most days. :)
 
Her first 2 were lower budget single units in a not so great neighborhood but so far they have been doing ok. Her other is a 4 unit in a decent area that she went in and made lots of upgrades and doubled the rent on them.
 
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