What Cuomo's New Rent Control Laws Could Cause:

That's because, in your limited understanding of business, especially in NYC, and, more than likely, never knew the small landlords in the city, nor, even more likely, didn't experience what happened FOR THE SAME REASONS MENTIONED HERE in the Bronx circa 1970s, you think that EVERY landlord is the equivalent to, or the same as, Donald Trump.  That is not so.

There was a term which was used in those "Fort Apache" days in the Bronx: "The Work is Moving Up..." and the genesis of that was that you could actually see the "work" moving, from the 40 Pct, into the 42 and 41 Pcts. (long before the Cross Bronx Expressway was built, BTW), and then west into the 48 and 44. Landlords would show up at serious crimes and fires from their homes in what was then better neighborhoods of the Bronx (Throgg's Neck, Arthur Ave., Riverdale, and what is now the 49 Pct....NOT 5th Ave and 57th St) , and talking to them, and listening to them yell at their complaining "tenants" saying, "Yeah, I come down From Astor Ave. and throw my garbage in the air shafts and back yards, I pull out the plumbing, I plug in all my electrical appliances and burn out fuses and wiring...."  For many of those landlords, that building and a couple of others were their only source of family income, all literally going up in flames. Fire insurance companies had stopped writing policies already.

They'd tell you, out of desperation, that this was the "last time" they were coming down to their building, not just for fires, but FOR GOOD.  They'd walk away from it rather than have to continue with the bullshit from the government-subsidized tenants and the Lindsay Administration, and the continued loss of money.

Then, the next time you had a run into one of those shithouses, there were signs posted, "This property is under the control of the City of New York."

You don't have to be "pro-landlord" to see history repeating itself.  And all the political "chemistry" seems to be the same today.

BTW...that "20% profit" was guaranteed to those landlords in those pictures above by the city during rent-control hearings too. Unfortunately, what the rent control board didn't tell the landlords was that they may have to dip into that "profit" to pay for the damages and emergency repairs over and above the normal "wear and tear" their buildings would have over the years, damage and emergency repairs which were a daily occurrence.

With all that said, we need only look at how the city's Housing Authority, despite having a LOT more resources than private landlords, CANNOT keep up with "damage and emergency repairs" themselves, dealing with the same kind of "tenants."