Democrats have won control of the state legislature, and the first thing they did is install draconian rent stabilization laws.
One of the new laws is that a landlord cannot increase the rent for a new tenant. Prior to the new law, a landlord would fix up a vacant apartment so that he could get a higher rent, but now there will be no fixing up.
This law will not only affect the landlords, but also the contractors that got a lot of work from the landlords. As a building manager, I see the destruction of much-needed low-rent buildings is again happening.
If only our politicians could manage an apartment house for six months, they would understand how stupid their laws are. In a building of 30 apartments, there are about 60 tenants that have a problem, either mechanical of financial, that the landlord must deal with.
It is common for landlords to be in court with bad tenants every other month or more, incurring legal fees to boot. Politicians see an apartment house as a pile of bricks with a landlord collecting a pile of money.