NY Post readers discuss the Rent Guideline Board's rent freeze on one- and two-year leases for rent-stabilized apartments. ZUMAPRESS.com See more of our coverage in your search results.
Add The New York Post on Google The Issue: The Rent Guideline Board’s rent freeze on one- and two-year leases for rent-stabilized apartments. Apartments represent a significant source of wealth production for their owners (“Mamdani’s Rent Surprise,” Editorial, June 27).
Forcing owners of rent-controlled units to absorb inflationary costs for salaries, maintenance, fuel and insurance represents an uncompensated “taking” of owners’ equity and property value.
It reduces the ability of owners to maintain properties, while increasing the probability of abandonment and foreclosure by the city. Mayor Mamdani and the rent board have the end goal of “seizing the means of production” within their grasp.
For more than 30 years, I lived in New York and invested everything I could into one small rent-stabilized building. It wasn’t an investment to become wealthy. It was the foundation that allowed me to support my family as a single mother.
More than 20 years ago, I founded Save One Person, a nonprofit dedicated to helping find organ donors. When people ask how I was able to devote my life to helping save strangers, the answer is simple: one small building.
I believe in affordable housing, but why must compassion for one group come at the expense of another? Why are small property owners expected to absorb rising costs?
Please don’t make people like us invisible, Mamdani.
The Post’s editorial correctly points out that the consequences of landlords not being able to recover quickly rising costs will mean “bankruptcy or forced sale to slumlords or incompetents.”
Considering the mayor’s recent comments, threatening to take “aggressive legal action to remove negligent owners and property managers,” my guess is that either the city or Mamdani’s handpicked property managers will take over. It’s a calculated move for government to confiscate private property.
As a former mortgage lending officer, I am familiar with the impact of freezing the rents. With the frozen rent and substantial increases of operating expenses and real-estate taxes, there will be major decreases in net operating income. Since property income is evaluated upon this, there will be significant assessed value reductions.
These properties have mortgages. Lower NOIs and values will ignite mortgage delinquency, bankruptcy, foreclosures and a major rent increase for unregulated, market rate apartments. Tenants better brace themselves!
Expecting John Bolton to be sent to jail in October by an Obama-era judge is fool’s gold (“ ‘Stache’d away after guilty plea,” June 27).
Yet Bolton admitted to hoarding classified national-defense documents for use in an upcoming book. This is an opportunity for the US justice system to disprove the belief that “nobody ever goes to jail.” Bolton should get maximum jail time and be forced to turn over any advances and profits from his book.
I was sorry to read that John Bolton is facing five years in jail. I realize he may have done something irresponsible. However, we have a president who caused an insurrection and was also found liable for sexual abuse, and he isn’t facing any time in jail. Does that really seem fair?
At least Bolton didn’t keep his classified documents in boxes piled up next to the toilet bowl in his basement bathroom in Mar-a-Lago — just like President Trump did!
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