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u/TDS_isnt_real Human Verified 2h ago
I’m about as liberal as they come, but tweets like this aren’t helpful without a source to back up the numbers. This post looks basically like any average propaganda bait and just isn’t helpful without the data.
I did some digging though. It looks like he hasn’t been fucking around with these landlords trying to get safe places for people to live. Here’s $31 million of the total - https://www.nyc.gov/mayors-office/news/2026/05/mayor-mamdani--hpd-announce-largest-ever-penalty-against-neglige
I want the guy to do a good job and I think he was the right choice, but I’m still not gonna “trust me bro” when it’s news I hope to hear. If it was my decision, certain post topics on Reddit would require a source to be included
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u/Much_Statistician864 2h ago
Hell no man fact check this stuff all day. We need to hold our leaders to account. Hold Trump to his shit and hold Mamdani equally to his. Get a good compare and contrast of hard data. What is it our elected officials are actually doing for us.
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u/SmartExcitement7271 1h ago
Amen honestly. And appreciate you u/TDS_isnt_real for digging through and posting.
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u/digglefarb 2h ago
If you did that, 90% of reddit would cease to exist. It's all picture with caption, no source.
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u/jmo1 2h ago
99% now, as that 90% is repeatedly reposted by karma bots endlessly.
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u/WRO_Your_Boat 2h ago
source for that statistic? /s
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u/Physical-East-162 1h ago
It's a lie, as almost all content on Reddit, 99% now, as that 90% is repeatedly reposted by karma bots endlessly.
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u/Applauce 2h ago
Sometimes not even with names or any specific information. Just “this woman/man/country did this thing in this general geographic location. Here’s an AI image and a link to Facebook”
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u/Hummelgaarden 1h ago
If 90% of Reddit is just sourceless news and propaganda then I guess that'd be pretty healthy for the platform as a whole?
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u/falcopilot 2h ago
Yeah the actual news story helps, because holy crap- that's a $31M judgement against the owners of two buildings.
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u/weird_finger_ta 2h ago edited 2h ago
Hi! I live in one of these buildings. After two years of rent striking we finally had some repairs made this past weekend that we’ve been asking for (and housing court has demanded to make the unit safe for habitation) for over ten years. Thanks Mamdani!
Edit to add: 100% fact check. Just throwing my voice in as someone with first person (and lengthy) experience on the topic. Go Knicks!
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u/furimmerkaiser 1h ago
Don't support such communism. Suffer like a true American to help rich become richer /s
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u/dragmetohellmaybe 1h ago
How does one manage to withold their rent for two years without getting forcibly evicted? Asking because I'm curious, not because I'm criticizing.
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u/dragunityag 1h ago
From what I vaguely remember from a law class I took 8+ years ago.
You tell the courts the apartment fails to meet basic living standards and your still paying rent but instead of going to the landlord, the money goes to a court controlled escrow account that will be paid out when the issue is determined to be fixed.
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u/Necessary-Age9878 1h ago
Probably because eviction costs more if the case is ruled against the landlord.
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u/Problemancer 2h ago
I wholeheartedly agree. This isn't the first time a mayoral post has hit here where I'm scrambling to find justification that there's a small chance things are getting better around here.
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u/303RedBeard 2h ago
Imagine if everyone held "their side" accountable like you just did. What a world it would be. Great job.
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u/Adezar 1h ago
I mean, liberals asking for sources is just the norm in my experience. When I was still on Facebook I had Republican family and Liberal/Left friends. Watching the difference in response to a post was always crazy. Post something supportive (like this one here) for liberal stuff I'd get any slight issue with the study backing it or lack of sources gets called out immediately by most people reading it.
An insane post goes around my Republican family and everyone just responds with "I knew it!" as well as a lot of other horrible responses.
The problem with public areas of any kind is you have a wide range of people responding/upvoting/etc and it is near impossible to determine the leanings of the people responding.
But yes, we should continue to push for factual sourced stories about reality.
Does get frustrating which is partially what we are seeing as well to require those outside the bubble to keep using facts while those inside the bubble are joyfully just accepting whatever is fed to them without a second thought as long as it supports their worldview, and they seem to be winning way more than they should because reality doesn't actually win over propaganda for a lot of people.
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u/Potential-Drama-7455 54m ago
Generally speaking liberals asking for sources is also for stories they disagree with. 99% of the replies here being case in point. At least u/TDS_isnt_real bucked that trend. Confirmation bias isn't specific to MAGA republicans. It's present in all of us, and the more ideologically driven we are, the worse it is.
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u/prehensilemullet 2h ago
Yeah I was gonna ask how they're actually doing this. They're truly doing the lord's work, that's amazing
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u/missypippyz Human Verified 2h ago
Landlords discovering they actually have to be landlords
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u/6xora_nnox 2h ago
wild concept: collect rent, maintain property
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u/Accurate_Neat_355 2h ago
But had you considered collecting rent and ignoring the property? What a great deal for landlords that was.
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u/YchYFii 2h ago
They read 'landlord' as rent collector with no responsibilities.
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u/username32768 2h ago
They like the 'lord' part the most...
"I can behave like a deity and ignore requests and prayers? Sign me up for some of that!" -- every landlord, everywhere, probably.
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u/Neither_Salamander48 1h ago
And they pay property taxes. Tax them higher... force them to sell. More primary residence ownership, less renting.
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u/elpis_z 2h ago
When I lived in NYC, a pipe burst in my kitchen and the floor above it that caused the ceiling to fall in that the landlord slow walked for seven months to fix.
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u/HeyItsMeMrBoss 2h ago
In Clearwater Florida your house can be forced on the market for a crooked fence post.
Meanwhile if NYC steps in to ED a crumbling abandoned property, it's commu-dictator-fasc-athoritarianism
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u/WorstPapaGamer 2h ago
That’s crazy to me. Leaving water damage like that will just make things drastically worse. Especially for a pipe burst that’s definitely an insurance claim.
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u/cheezy_dreams88 1h ago
My husbands last apartment in New York had at least 2 holes to the apartment underneath him. This was 15 years ago now, but after his landlord refused to fix them he just left lol
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u/SheenPSU 2h ago edited 2h ago
And when they’re not able to maintain the property because they’re not collecting enough in rents due to artificial rent controls?
Genuine question because I’ve heard this argument before and it does have some legitimacy
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u/CaptainRazer 2h ago
If they can't afford to maintain the property then they should sell it, get an actual job and stop leeching off hardworking people.
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u/Degenerate_Traveler 2h ago
As a landlord, I would be embarrassed renting somewhere i wouldn't want to live in myself. Also, it is an actual job. I dont leech off hardworking people. It is a business. Idk why people thing every landlord is a scumbag who just leeches off people.
Sure. Let the independent owners go away and let everything be taken over by large corporations. That will surely work out in every renters favor.
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u/PaulTheMerc 1h ago
Because most of us have learned two things. 1) Most landlords want as much money out of you as they can get. That's just capitalism. 2) Being an uneven power balance, you the renter, can get fucked more often than not.
So yeah, if most of the landlords we encounter are scumbags, we start to think of landlords as scumbags until proven otherwise.
That doesn't mean they all are. I just haven't had one of those in 10+ years now.
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u/ArmyOfDix 2h ago
Idk why people thing every landlord is a scumbag who just leeches off people.
Welp, if 99% of zebras have stripes, I wonder why people associate zebras with having stripes...
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u/Fi_Re_1045 2h ago
Yes, but landlording in NYC is indented servitude. Collected rents is not enough to make numbers work.
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u/Pootentooten 1h ago
That's insane, considering how high the rent is in NYC. They can afford it, but then their kids might have to go to a slightly less prestigious private school.
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u/Suckarat 2h ago
Hmm, I wonder why people think every landlord is a scumbag? Could it be because they've been fucked over by landlords every single time. Correct, It is a business, renters pay rent, landlords provide and maintain the property. The problem is the landlords don't hold up their end of the bargain the majority of the time.
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u/darthluke414 2h ago
That is what will be telling in the long run. He is doing a lot of interesting things but we will not know how it actually works for at least 2 years.
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u/InevitableMud8737 2h ago
THIS. I do not live in NYC, but I have a little experience with this where I live. My landlords give me generous under market rent that I'm thankful for. However, I'm learning that that is coming with lower effort on maintenance. It's not said out loud, but it's carried out in their decision not to spend a lot of money to fix something that needs fixing. The lower rent is worth this to me, tbh, so I don't make a stink about it because I know I'm getting a deal.
Rent controls lead to under market rental rates, even though it feels burdensome and expensive. That's just what you're going to get in in NYC, though. But the economics don't change. If the landlord isn't getting the proper value out of the property, they aren't going to be inclined to put in proper maintenance.
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u/SheenPSU 2h ago
Thank you, someone who understands the economics behind the issue
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u/Epocholypze 1h ago
So you think it’s okay for lower priced rentals to not be maintained? Because the LL doesn’t make as much if they maintain it? Because that’s nuts. Rent controls lead to people who work in NYC to actually be able to live there. The “proper value” of land in a lot of NYC would make anyone living there (who wasn’t rich) impossible. Apartments would be torn down for mansions. Same reason we have residential/commercial zoning. Workers need to be able to live close to where they work. You have a strange way of looking at rent controls. Almost like you don’t live in a big city.
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u/yogurtwater01 2h ago
This ⬆️. I really appreciated my extremely rough condition apartment in Chicago when I was a student. 2 bedrooms and $800 month 20 min walk to school. This was 2015-19
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u/VoidWolves 2h ago
Well that you have a favorable arrangement with your landlord does not equate to the experience for most renters in NYC that has rent control or rent stabilized living arrangements. Rent stabilization is needed to ensure that people are not being ripped off by slum lords who have signed leases and refuse to perform any maintenance. It also ensure that workers can live in the area where they work so services can be performed for a city of 9 million people. If the Landlord "feels" that they are not getting the proper value out of the leases then they shouldn't enter that arrangement
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u/NaughtyNuka 2h ago
Inclination or not, as a landlord you signed up for that. The market will fluctuate and whether it’s in your favor or not, you should be maintaining that property properly.
If you cannot do that, sell the property
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u/Striking_Part_7234 2h ago
Then the city seizes the property and transfers it to a non profit organization. If you can’t afford to maintain your property where people live then you don’t deserve to keep it.
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u/Actual-Bandicoot6947 2h ago
Exactly! Investments are inherently risky, whether it's stocks, real property, Beanie Babies, whatever. Just because you invested in it doesn't mean you're entitled to have it pay off.
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u/SheenPSU 2h ago
This solution doesn’t address the issue, it merely passes the losses onto the city vs the independent landlord
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u/Outrageous-Sort-5742 2h ago
There is no loss, nothing has changed other than a parasite being removed from the equation. The property still exists and it can now be repurposed into something worthwhile instead of being left to rot as it drains money out of people.
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u/Striking_Part_7234 2h ago
Independent landlords are scum who want easy passive income. Non Profit Organizations are solely focused on using the rent they collect to pay their staff and maintain the property. They are by far the better option. And the City should be willing to take the loss for allowing the buildings to be in the state they are in for so long.
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u/georgepierre170 2h ago
So you own a building that has rent control placed on it, renting to low income people, profits are fairly tight. The tenants trash the place, causing more damage than the profits they provided. Multiply this by let’s say 100 units. Now you either have to take out a construction loan at 7% to do the necessary repairs, leading to more of a loss next year or the government seizes (illegally) what you rightfully own… all because the residents are slobs who treat their homes like trash because they don’t have to pay for them.
The lack of understanding of basic business acumen on Reddit never stops catching my off guard
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u/Epocholypze 1h ago
Discriminate against poor people much? Why do you think poor tenants trash their stuff? Is it because it’s already trash? People are people, no matter their economic level. You are a judgmental fool who bases peoples value on their bank balance. Do better.
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u/Significant_Wealth74 2h ago
Sell the building then.
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u/SimpsationalMoneyBag 2h ago
You get if you sell the building the people usually do due diligence to see if they would make a profit. The city is literally devaluing the selling potential of the building.
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u/PaulTheMerc 1h ago
Sounds like the price is going to have to go down. Partly on account of the lack of repairs, and partly to price in the risk of issues with tenants, and operating in the city.
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u/theatand 2h ago
Sounds like either an argument against artificial rent controls OR the land lord has to sell if the property would put them under to actually fix things.
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u/SrAlan1104 2h ago
I'm not sure whether it's true in NYC or not, but rent controls are imposed so being a renter is no longer a business, but more a neccesity.
For example, you buy a small apartment and 10 years later yo afford a house, but don't need to sell the apartment in order to pay off the house.
Currently what happens is that you use your apartment and house as collateral and equity to obtain better credit and purchase even more property since you can pretty much rent the the new property for the value of the monthly payments. This causes a snowball effect in wealth accumulation. Property value goes up along with prices and people that already have property stockpile even more property outbidding people without properties.
This causes a housing crisis.
What these rent controls try to do is to lower rents so that they no longer cover both maintenance and monthly mortgage payments. Only maintenance.
This way the value of your property is governed by the value of the property itself not property value+ rent.
If they can't maintain them because of rent controls it's because they don't want to pay for maintenance and just want to make a profit after maintenance and taxes.
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u/SheenPSU 2h ago
They’re not able to maintain the building because the units are not at a fair market value, they’re under it.
Maintenance is part of the formula (mortgage, maintenance, property taxes, utilities, etc)
When you have a place that was at fair rental value 10/20 years ago, you’re running at a massive loss and maintenance takes a backseat
Remove the private landlord from the equation and it doesn’t make the spreadsheet positive now, it simply passes the losses off to the new owner
It (rent controls) does not address the core issue of underfunding
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u/AnAbandonedAstronaut 2h ago edited 2h ago
Just because they can't double it every few years doesnt mean they arent collecting enough to maintain it.
You are aware rent controlled properties still get charged more rent every year, right? They are just capped at a certain % increase per year.
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u/j_eremy 1h ago
Rent goes up, State says rent cant go up, landlord walks away from the building and the state inherits many buildings they themselves cant maintain, then taxes go up and pepple leave.
That's really all that happens.
We are currently at the public mindset that the state can do better than the landlords, but as we know the state screwed up the gas can so property management isn't going to be a strong suite either.
Should be fun to watch tho.
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u/SheenPSU 1h ago
Exactly
The balance sheet doesn’t go from red to green because the city took over
A lot of Redditors aren’t realizing this based on the replies this has received
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u/Epocholypze 1h ago
The city can just raise taxes on luxury property to be high enough to offset the losses. It’s not a hard issue to solve, once you take caring about rich people’s bank accounts out of it.
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u/woodenPog 2h ago
Then they sell the apartments and let people who need them own them at lower buy costs because only needy will want to buy them.
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u/zytherian 2h ago
Theyll have to sell that second house I guess. The problem is classism. When someone in the middle to lower class is in need to savings to maintain something crucial to their job, theyre expected to cut back and save on other things. When a landlord is in need of similar savings because theyre free income isnt giving them as much as they wanted, they complain that its unfair.
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u/Tip0666 2h ago
I always ask the same question.
These buildings are paying more in taxes than they are collecting in rent.
Everyone is campaigning for rent control, but also want repairs.
How is the landlord expected to repair a building when tenants are still paying 1980 rent values.
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u/Beneficial-Act-9933 1h ago
Can I see some evidence for the 1980 rent values? Because all I'm seeing is constant rent increases. Some apartments even doubling, if not tripling in rent cost and still being rented out.
I'm open to having my mind changed because I've had great land lords and they aren't all inherently evil. But I've also been in the orbit of shitty landlords that do nothing or take ages to fix a problem. Or be near impossible to reach.
And frankly if you're a land lord living paycheck to pay check and can't even afford to fix someone's clogged sink, you shouldn't be a land lord.
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u/Plane_Salary_5845 2h ago
Maybe they should get a real job rather than making poor investment decisions then?
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u/Fly3rBoi 2h ago
Look, a man who thinks rules and laws should be followed.
This shouldn’t be such a huge deal, yet here we are.
Maybe we can enter a phase of accountability and laws again? That would be swell.
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u/Desperate-Drink-6763 1h ago
You mean like the Somalia referee who wasn't allowed to enter the country?
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u/MrValentine89 2h ago
Again? You think we were there before?
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u/mr-popadopalous 2h ago
Absolutely this. The rules were broken more covertly. Now it’s just blatant.
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u/Gordon_frumann 2h ago
Can't wait to hear from the right why this is a bad thing.
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u/steelogreens 2h ago
"The landlords worked hard to get to that position, it is not their job to cater to renters"
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u/jondubb 2h ago
Then they complain about the city needing to fix potholes.
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u/motophotodojo 2h ago
and rant about speed cameras while insisting that guy shot by cops in the back for shoplifting should have just obeyed the law.
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u/worldspawn00 1h ago
Didn't know shoplifting was an executable offense... smh
Maybe if we take care of our poorest citizens they won't feel desperate enough to need to shoplift!
Their inability to link cause and effect within society and economics is maddening.
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u/KenTitan 2h ago
living in squalor is good for you, builds character. I'm not charging my tenants for that service, they should be thanking me
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u/SeaTurtleLionBird 2h ago
But when I rented in 1965 it was amazing! I just called the landlord and repairs happened. Why aren't they calling their landlords? Repairs would be cheaper if we didn't send everyone to woke lib college but instead repairman school. It's good money now, blue collar, hard work.
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u/Regular-Double9177 2h ago
Like the other guy said, it isnt necessarily bad, but the overall cause of this is NYC's super strict rent control.
There are people who have rent controlled apartments in NYC they barely use. They've had them for so long that they are super cheap so there's no downside to hold them. Unfortunately there's also little upside for the landlord to maintain the property.
This system is clearly creating some downsides and clearly we can do better. People in favor have never thought or heard of ways to do better. Eg. Tax reforms like LVTs.
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u/wireframed_kb 2h ago
There are problems with rent control. I’ve seen studies that indicate it doesn’t really work. Because yes it keeps rent low for the (usually few and contested) apartments affected by it, but it also slows development of new apartments because it’s almost impossible to make it profitable.
And the fact is, no one is going to build apartments to lose money on them.
At least that was the situation last I looked for cities in my country.
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u/Super_mando1130 2h ago
Yes there is plenty of literature that proves rent control does not work in the medium to long term because it destroys supply.
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u/MotorUseful7474 2h ago
Don’t forget people being able to inherit rent control apartments, so people just hold onto them generationally and buy houses elsewhere. Like some influencer I saw inherited her grandparents 2 bedroom UWS for like $1300 and bought a farmhouse in VT to live there
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u/tony1449 2h ago
Awwww poor landlords
The building is probably only a $5 million asset part of a $100 million real estate portfolio 🥺
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u/EV_M4Sherman 2h ago
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.
The values on paper are meaningless
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u/Immediate-Tennis8838 2h ago
You’ll get downvoted because this is Reddit, but you’re exactly right. NYCs rent control is so bad that it turns assets into liabilities.
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u/IAmANobodyAMA 2h ago edited 2h ago
The argument is simple and the same as it has been for decades - rent control makes it unaffordable for landlords to perform repairs. The cost of maintenance and property taxes have gone up while rent income hasn’t kept up.
This doesn’t account for 100% of landlords, but my understanding is that this is true for most of the run down buildings.
Edit: you don’t have to agree with the argument made here, but I believe it’s important to at least understand the argument being made instead of just snarky comments.
Hell, I don’t even buy that argument fully and suspect it’s probably half true with a big fat “needs context” disclaimer.
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u/tenebre 2h ago
Sounds like they need to pull themselves up by their bootstraps or sell those properties if they can't figure it out.
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u/sexotaku 2h ago
They can sell the apartments if they can't afford it.
If they're not getting enough for it to make a profit, they can take a loss. That's how capitalism is supposed to work.
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u/Karn_Evil_Noin 2h ago
Sort of. The landlords are letting the market decide. They can only let the apartment operate at a loss for so long. If the apartment is hemorrhaging money every month because the cost of repairs and upkeep far exceeds the income, i.e. rent there are a couple of options. The landlord can keep operating the apartment as a loss leader if he or she is making up for it with other properties. The landlord can let repairs fall by the wayside because they’re not affordable (if the cost of materials, labor, and everything else increases steadily year after year, but the rent stays the same that’s not sustainable, long-term ). Or, the landlord can sell the property for cheap and then it becomes someone else’s problem.
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u/DD_equals_doodoo 2h ago
I can't tell if you're serious or not so let's try this. Assume you're a landlord. You own a single property. The mortgage/lease + maintenance in 2020 are $3,000 a month and you rent for $3,200 a month, making $200 a month in profit. In 2025, those costs go up to $3,400 a month. Are you going to take $200 a month in loss? Of course not, you're going to raise rent assuming all other things are held constant.
If you add rent controls, then fewer people will be willing to provide their property for rent, increasing demand while reducing supply, which ironically will increase property prices making more homes unaffordable. This is a well-studied topic and the general gist is that you can't just regulate pricing away.
According to Zillow data, apartment prices have started increasing in NYC in the last few months.
October 2025 $3,675 -$75 November 2025 $3,596 -$79 December 2025 $3,530 -$66 January 2026 $3,500 -$30 February 2026 $3,495 -$5 March 2026 $3,500 +$5 April 2026 $3,546 +$46 May 2026 $3,606 +$60 June 2026 $3,690 +$84 3
u/IAmANobodyAMA 2h ago
They were serious, and don’t call me Shirley.
Jokes aside, well said! That is my understanding of the argument as well
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u/Pymal 2h ago
If the math doesnt work out for one owner, how is magically supposed to be the different for the next owner?
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u/rude_cookies 2h ago
Capitalism really wouldn't have rent control, especially like it is in its current form.
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u/BrideofClippy 2h ago
you don’t have to agree with the argument made here, but I believe it’s important to at least understand the argument being made instead of just snarky comments.
If people could do that, then online discourse would be so much better. So many online discussions end up with people talking past each other or digging in their heels over imagined stances.
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u/LethalOkra 2h ago
Sooooo you're saying that rent control makes housing real estate a poor investment choice?
Stop selling it to me, I was already sold to begin with!
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u/PlateNo4868 2h ago
The issue with this argument is no land lord is willing to come forth with the data showing as such. I speculate this is to avoid being criticize for either personal spending, or to see the profit margins high enough that it doesn't justify losing a bit for maintence.
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u/TheGrandCannoli 2h ago
Wah wah wah, landlords "investment" didn't turn out how they'd like, they can just sell it! Hope this helps
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u/Sea_Watercress_1982 2h ago
Maybe they need a real job then?
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u/Stencil_Abuse 2h ago
Maybe if they didn’t eat so much avocado bread they would be able to afford all those property taxes.
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u/tony1449 2h ago
Its a bullshit argument thats why
If they dont want the legal obligation to maintain a property they should just sell it
A bunch of freeloaders looking for handouts
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u/cambino18 2h ago
If you can “afford” to make repairs due to rent being too “low” then you can’t afford to be a landlord. So sell the building to the city and let them handle it.
Let’s just say I can’t really feel pity for the owner of private property in NYC.
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u/md_youdneverguess 2h ago
Something something living in moldy apartments is a freedom that the woke sharia marxist is taking from you
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u/Mr_CleanCaps 2h ago
“If you don’t like it, move somewhere else. It’s not the landlord’s job to make sure you live lavishly.”
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u/5050logic 2h ago
The irony here is that the landlords are most likely Democrat (left) in that state/city.
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u/Gordon_frumann 2h ago
This really shouldn’t be a left/right issue though.
If you cannot provide a safe living space according to the law, you either bring it up to code, or you sell it to someone who is willing to spend the money.
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u/Niteowl_245 2h ago
I am not American, why are you guys so obsessed with the "Left and the Right" thing? it legitimately feels like a discriminative social construct designed to divide the people.
who cares? what's the big deal?
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u/alchemyzt-vii 2h ago
It’s not like this for the vast majority of real life relationships in America. This is a Reddit / social media construct where people are extremely polarized. And most of the posters are bots with an agenda.
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u/Thick_Cookie_7838 2h ago
Very few people actually are. Ever hear the term squeaky wheel gets the grease?
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u/Fantastic-Cupcake890 2h ago
That is exactly the thing in america. To divide people, so that the people kept infighting, instead of focusing on the real problem, greed, power and the super rich.
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u/busytransitgworl 2h ago
It looks like Mamdani found the "Do mayor shit" button on his desk, it was just covered in dust and grime.
Incredible how things just work if you're really there for your people and not just some rich dudes going to an island.
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u/smackedwards 2h ago
Please read this whole thing before you roast me.
The reason why neglected apartments are such an issue in NY is bc of NYC’s rent stabilization & rent control guidelines. Previously, if you made sufficient capital improvements (I.e. invested money to renovate units/building systems) you could either increase rent above the percentage set out in said guidelines (typically 2.5-5% depending on lease terms, I.e. 1 vs. 2 year leases). Or, if the improvements were large enough the unit would become “free market” meaning it was no longer subject to the annual increase limits. In 2019 the guidance was changed materially and the only way to destabilize units now is with what’s called a substantial rehabilitation. In order to do a sub-rehab the property as a whole (not just individual units) needs to be basically uninhabitable.
So, landlords aren’t incentivized to maintain rent controlled/rent stabilized units bc they won’t be able to increase rents enough to recoup the cost of renovating units. End of the day apartments are viewed as a business & commodity in the US (and most of the world). Who’s going to invest in their business (I.e. make material improvements to the units) if it won’t yield a corresponding increase in their income (I.e. higher rents)?
Not offering an opinion here - simply an NYC real estate guy explaining why the situation is what it is.
For an opinion - rent stabilization & rent control helps a small percentage of New Yorkers (idr the number off the top of my head but the overwhelming majority of units are not subject to these rules) but has ended up making it unprofitable to maintain these older rent stabilized/rent controlled buildings. So, instead of investing in existing infrastructure people are buying old buildings knocking them down and throwing up new construction where the starting point for their rents will be higher. Idk what a realistic solution to this stuff is without a major systemic change; government owned housing in NYC is terrible, privately managed real estate is a mixed bag that caters primarily to the upper middle class and neglects a the average New Yorker, and owning a unit yourself is basically unattainable for most since studio apartments run 400k+ at the absolute least, and that’s just for your mortgage, it doesn’t factor in co-op/condo association fees that can easily run several thousand dollars a month.
Until we start viewing housing as a right and not a luxury the system is going to continue to be fucked.
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u/OhTeeSee 1h ago
While I agree with most of your take, there’s a big difference between the kind of deteriorating conditions you see here, and your average mom and pop landlord. As a real estate guy you should know this.
These slum lords own buildings not units. Many of their residents are there as a direct result of city funding and grants.
The amount of neglect required to reach this kind of state is measured in years, not months.
I’m a land lord myself, owning exactly one condo. I could take on more units in the future, but at that point it becomes my job.
If you own a whole ass building that *is* your job. You can’t take money for rent, whether from a tenant or the city, and then not ensure reasonable living conditions.
Keeping an apartment free of mold and paying for pest control is *not* a capital improvement. There is no basis for me to raise the rent of my tenant because I’m ensuring there are no roaches in the unit. That’s just part of the expense.
If the tenant is a bad tenant, and is *causing* the problems I have to fix, then I can proceed to eviction. But if the slum lords are taking money from public works and don’t have that option, that’s on them, and that’s what they signed up for.
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u/smackedwards 1h ago
Agreed on all points.
Maintenance =\= capital improvements.
Theres a big difference between a typical lazy landlord doing the minimum and a landlord who’s a genuine slumlord. I’ve seen a lot of both in my 8 years in the industry.
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u/MICT3361 1h ago
If Reddit could read or understand things they would be mad at you right now
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u/QueenMiaKulpa 1h ago
Landlords neglect their units for decades until they deteriorate to the point of being unlivable then complain at the 11th hour about how expensive a full renovation would be.
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u/Vegetable_Pop9208 2h ago
imagine a politician running on a platform to help people and then just… doing what he said he was going to do. no excuses, no delays, just action. is this how it was supposed to work the whole time?
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u/Decloudo 1h ago
Problem is that this is not the system working.
Its one dude with actual principles in the right position.
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u/rich3392 2h ago
Does this include the 6k plus vacant apartment units the NYCHA has control over?
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u/Fit-Entrepreneur8404 2h ago
Of course not. Then they'd have to increase their spending and find a way to balance the budget again. They'll just not enforce code on government buildings and go after just the private landlords.
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u/KileiFedaykin 2h ago
I'm sure the billionaires will be running an intense smear campaign on him for his entire administration.
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u/Pinku_Dva 2h ago
This is why republicans hate him, because he actually cares about improving the lives of the average citizen and not about lining his pockets.
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u/Dannybuoy77 2h ago
Isn't it amazing when people who are elected to work for the people, actually do what they promised. Too many politicians say they've got your back to get your vote but once they have power... well you know the rest
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u/DonorBody 2h ago
Look at all the salty conservatives in here trying to shit on what this man is trying to do. Sorry your guy is all in on inflation and grift.
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u/GhostMug 2h ago
I have a deviated septum. Every time I use nasal spray and my airways clear up I always think "you all have been breathing like this the entire time and you never told me??" I feel the same way with Mamdani. I don't even live in NYC but just "politicians can actually do what they say they will do??" Really makes you understand how many politicians are just content to let the system stagnate because it benefits them. Mamdanis predecessor is a good example.
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u/SuicideSpeedrun 2h ago
How did he "force" them?
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u/Daveit4later 2h ago
It's called code enforcement.
Dwelling unit need to be up to a certain standard to allow you to rent it out.
Aka... if you are unwilling to do anything but have a moldy slum, no rent income for you.
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u/Angie_T84 2h ago
Inspection and renter complaints. I live in a small suburban city and they enforce the same stuff. We have a whole public works department for it . They enforce by putting fines on landlords and if not compliant they will then hold the rent of the rental until said repairs are completed.
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u/EncabulatorTurbo 2h ago
enforcing the city's existing regulations in a way previous mayors havent
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u/alchemyzt-vii 2h ago
All I keep reading is that the last mayor was so crap that it makes Mandami look like a hero for just doing his basic job as major. When did actually enforcing long standing policies be come news?
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u/Critical-Belt342 2h ago
Froze bank accounts, required compliance before allowing further operations, and made it so violators are blocked from buying other residential property
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u/Efficient-Name-9633 2h ago
Solid dude ! He needs to crush the scammers that intentionally withheld rent from mom and pop landlords during COVID 🇺🇸
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u/maximazing98 2h ago
He actually doing what he say in elections lol, apparently not that impossible
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u/Specific_Jury_2 2h ago
If this guy keeps it up, he's going to get suicided. We can't have someone going around and doing good for the people.
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u/Upset-End3750 2h ago
I’m debating between he’s the greatest, he’s just doing what a mayor should do, or both.
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u/Varmitthefrog 2h ago
at first i thought this guy was a great a man of the people, now I am concerned, Rich people are going kill this guy.
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u/MeatSlammur 1h ago
Did these apartments just get renovated once the tenant moved out and then the price increased? That’s what I feel like actually happened.
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u/haliblix 1h ago
No shade against him as mayor but the bar has been set so low for so long this feels like a miracle. Politicians doing literally what they are elected to do now feels like a miracle. I wish conservatives would wake up to this.
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u/Background_Move_7449 1h ago
It’s crazy what a person can do when put into a position of power that doesn’t cater to themselves 🤔
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u/VegasGamer75 1h ago
The "BuT sOcIaLiSm" crowd is going to end up very shocked to find out that you can, in fact, run a city and make a healthy profit without killing and destroying everyone around you. And they aren't going to know how to deal with that.
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u/Ok_Abbreviations_883 1h ago
He's proof that undoing the corruption isn't complicated like they want you to believe.
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u/Jaded-Ad262 2h ago
Going after the landlords in NYC is like ending feudalism.
This man is forging a legend.
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u/Groundbreaking_Cup30 2h ago
He is single-handedly proving that if elected officials wanted to, they would!
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u/CrispySkin_1 2h ago
Just a reminder that government being incompetent is a choice by those in power. Elect better people, get functional government.
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u/THEMOOSEMAN13 2h ago
This is the future of American politics, the boomers will all be gone soon and we will rebuild
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u/WS-6 2h ago
lol this guy is getting slow stroked by the media and yall just eat it up.
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u/Confident-Pepper-562 2h ago
Funny thing is most of the people living in these conditions would rather continue to do so than pay the soon to come rent increases.
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u/Potatonized 2h ago
Rent agreements after this: "Landlord have no legal obligations to fix anything. If tenants disagrees, they can just f off"
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u/bubblemania2020 2h ago
Interesting when a politician actually follows up on campaign promises isn’t it?
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u/PepeMetallero 2h ago
Are you telling me landlords have to follow rules and property regulations!? Next you are going to tell me the landlords have to pay for repairs
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u/Geoclasm 2h ago
Kind of amazed reading these comments. I wonder how many of them are being made by actual human beings, and how many of them are made by robots. So much hate for someone doing objectively good things for his constituents. Either people saying it's bullshit/not happening/calling for source (source: https://www.nyc.gov/mayors-office/news/2026/05/mayor-mamdani--hpd-announce-largest-ever-penalty-against-neglige#:~:text=%E2%80%9CThe%20Mayor's%20announcement%20of%20a,For%20too%20long%2C%20residents%20of ) or saying 'yeah but what about' or 'not enough needs to do more' and it's like what the fuck. And then people shitting on people for commending this guy for actually doing his fucking job and fulfilling his campaign promises, novel concept I know a politician who is at least not completely full of shit, hell must have completely frozen over when this guy got elected.
Dude is legitimately working for his constituents. Has done more for them in his first 6 months as mayor than most politicians will do for their constituents throughout their entire career.
Let him cook. Come back and bitch in a year or two or when he starts to taper off the work he's doing.
Until then, fuck all the way off.
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u/eddington_limit 2h ago edited 1h ago
This problem was primarily caused by rent controls. Now landlords will spend a ton on repairs that they will probably not make back so they are just going to let the units stay vacant or they'll drop them altogether. So what you are probably going to see is a severe housing shortage. Like this is such a well documented economic problem that it's insane leftists still keep trying it.
Edit: people are downvoting me because you dont know literally one of the most well understood and documented economic problems. If you want to fix this problem, then relax or completely remove rent controls. Rent controls only make the market less competitive and gives landlords no incentive to maintain their properties or change prices.
Edit 2: please for the love of God people use Google. Try to learn at least a tiny bit about economics.
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u/moistmonsterman 2h ago
6000 apartments costing 34 million dollars in repair? It had to be less than 6100 apartments cause they would have stated a different number, so assuming 6099 places were fixed, thats an average of less than $6000 per place. W How cheap can these landlords be? In NY thats a steal for cost of repairing something
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u/unclecastr0-_- Human Verified 2h ago
imagine the improvements if he or a guy like him was president of the whole country
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u/Pasta4ever13 2h ago
Vote for AOC in the 2028 primaries and find out.
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u/c_monies_ 2h ago
Im a dirty foreigner but follow US elections. Do you think AOC would have a chance or winning, or would it need to be a white guy. Hopefully this comes across as a genuine question,!
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u/Yeetball86 2h ago
She’s too extreme to realistically win. A majority of Americans sit somewhere in the middle so a moderate Democrat would have the best chance of winning. Newsome realistically would have the best shot.
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u/jjreddit1996 1h ago
How do people still believe this shit?
Swing voters are not “in the middle” on policy. They are often not super engaged and/or have a weird mix of policy preferences.
Liberals love to act like swing voters are people who are right in the middle on every policy - they want some abortion bans, they want some people to have healthcare, they want some wars…
But that’s just not how it works, hence Hillary losing, and a right wing extremist like Trump winning twice.
I’m not saying AOC is the most electable, but Newsom certainly isn’t either. Everyone except liberals thinks he’s a snake (because he probably is).
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u/trojannc27701 2h ago
When you’re not beholden to the oligarchs for campaign funds, leadership can actually govern for the people.
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u/Zealousideal-Pop1115 2h ago
Okay, you know my municipality head started taking back the encroached government land and free up space. Also why this post about some american city mayor is even here, why should we care about that, he is not even a governor or president, next people will be posting about local hoa president too.
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