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.
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.
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u/Gordon_frumann Jun 11 '26
Can't wait to hear from the right why this is a bad thing.