New York City Just Banned Evictions! CRAZY...

New York is delusional...that's a crazy law and meddles in the property owners to have any sense of control over their finances and ability to fluctuate based on their own individual needs....you can't treat properties the same as they are all unique...I realize they are trying to protect the tenants, but you are hurting the business owner who has the right to fluctuate rent based on its own and needs of the property....

Doesn't pay to own a property and rent it out anymore because the laws are so shifted towards tenants and squatters it's unreal...even a squatter for 6 moths could cripple that homeowner...it's bad enough when a property is unoccupied and the profit margins are not always that high on rental properties to have someone living there rent free...this will just cause rent prices to soar as soon as those tenants move out...so, if a building has a water leak and causes damage that cost the property owner tens or hundreds of thousands of dollars you cannot increase rent to recoup those costs....that's absurd and makes this a bad business...

Didn't we all learn from COVID and how the property owners were hurt by alleviating rent....this is just government meddling in something that they have not thoroughly thought through.... 

I've had a few rental houses in the past - they were just barely cashflow negative.  I ended up coming out ahead when I sold them but not near enough to justify the headaches and stresses.  A new roof, HVAC, etc... can set you back years of profitability.  If the gov stepped in and banned me from evicting deadbeat tenants, I would have sold everything immediately.  If I was going to get into that game again, I'd forget about long-term tenants and focus on AirBNB and VRBO.