Tuesday, April 25, 2017

Why is "Preferential Rent" a scam? ProPublica explains


The article is VERY LONG with great statistics, so this is just an excerpt.

New York Landlords Exploit Loophole to Hike Rents Despite Freeze

Thanks to a 2003 state law, owners of rent-stabilized apartments can arbitrarily boost rents to a legal maximum that they set themselves. The tactic fosters gentrification, eviction and homelessness.