Today’s post is about the biggest proposed change that DIDN’T end up in the final bill: “good cause eviction,” or, as some people are calling it, “universal rent control.” Good cause eviction would have forced a landlord to show “good cause” when choosing not to renew a lease, meaning the tenant would be entitled to an annual renewal.
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Potential Rent Reform Upsides
Landlords aside, for those of us who work as brokers/realtors/agents there are some downsides and there will be some growing pains, but whining isn’t really my thing (jk jk). Since I’ve already covered what I don’t like, here are some potential upsides for real estate agents that the industry isn’t discussing, because it doesn’t mesh with their “boo hoo, the world is ending” storyline.
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What They Got Wrong in Albany
I’ve written about what the law actually says and how annoyed I am with the hyperbolic reactions to it, but today I want to dig into the things I think they did WRONG in this bill. Because while I am staunchly pro-tenant when it comes to slumlords who take advantage, there are elements of this law that will unfairly burden responsible landlords.
Read MoreWhat ACTUALLY Passed in Albany?
I’m still a little annoyed by the endless headlines about how bad this deal is for the industry, and a lot of what I’d call clickbait, propaganda, and whining around it, but I want to break down what ACTUALLY happened, because facts > feelings. And there’s a lot of info that is relevant to you, the NY renter.
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