More than 13K rent-stabilized units in NYC are sitting empty for multiple years, report finds
gothamist.com
A city Independent Budget Office report examines vacancy data from the state’s housing agency amid concerns of "warehousing."

cross-posted from: https://lemmy.crimedad.work/post/12162

Why? Because apparently they need some more incentive to keep units occupied. Also, even though a property might be vacant, there’s still imputed rental income there. Its owner is just receiving it in the form of enjoying the unit for himself instead of receiving an actual rent check from a tenant. That imputed rent ought to be taxed like any other income.

  • Shalakushka
    3•1 year ago

    By major remodels and upgrades I assume you mean slapping a coat of white paint to cover the cracks and mold, right?

    • bluGill
      5•1 year ago

      The coat of paint should be done every 5 years, or when a tenant moves out.

      Major I mean things like replace the HVAC system, rewire to add GFCIs, replace windows with something better. If it doesn’t cost $20,000 it isn’t major. Most landlords do not do this, but it really should be part of the cost of doing business.