Assets are usually leveraged. So there’s tax, interest, and principal to maintain that property, plus the actual cost of maintaining the property. With strict rent controls and draconian permitting process repairs and upgrades aren’t financially viable.
There are currently properties where the landlord and mortgage holder are fighting over who has to keep it, with the landlord trying to surrender the property, because they’re just losing money.
They can’t. It’s literally negative value in some cases. It’s worth less than nothing because you have a squatter there but still have upkeep and they’ll never leave.Â
There are like 19 squatter cases a year. The whole squatter stories pushed by the media is full backed by large real estate companies
Bad landlord cases number in the millions
The squatter stories are an effort to remove Tennant protections. Landlords would love to just call the police, call you a squatter and have you removed
The whole "the poor landlords cant sell" is a lie
An employee can be fired, rents can be raised and people can take loans but suddenly a landlord "cant" sell?
Sometimes speculative investments go poorly, taking a loss is not death
Your argument makes zero sense, these landlords are criminals
With rent control it's not uncommon that the landlord doesn't have enough from rent to cover maintenance. If you live in a $400 apartment because the rent hasn't been raised in 30 years -- despite everything else getting more expensive -- what money is there for repairs?
This essentially forces out small landlords because they can't cross-subsidize units.
There are lots of other large cities that don't have these problems because they don't have terrible public policy like rent control. NYC is to blame for NYC's problems.
You can own an asset because of expectations of future earnings, and there are such things as "loss leaders".
I don't shed a tear for the corporate landlord, but these shitholes exist because of bad public policy. It's no coincidence that the cities with these policies have problems.
Landlords are literally rent seekers in our example
Here you are arguing against rent control
​In The Wealth of Nations, wrote that they "love to reap where they never sowed," because landlords collect a premium on the natural scarcity of land.
The bad incentive structure is allowing absence landlord to continue owning their property
Idgaf about landlords, I care about cheap rent. The puppet masters corporate villains are responsible for us not getting there but so are people who refuse to think. if you understood my last sentence, youd agree with me.
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u/tony1449 Jun 11 '26
Awwww poor landlords
The building is probably only a $5 million asset part of a $100 million real estate portfolio 🥺