Article from Fox News by Adam Shaw.
Liberal New York City Mayor Bill de Blasio is rolling out a new plan that would potentially allow the city government to seize buildings of landlords who force tenants out — a plan his opponents say amounts to “straight communism.”
De Blasio, in his State of the City address on Thursday, announced he wants to take action against landlords who try to force tenants out by making the property unliveable — and pulled out an executive order to create a Mayor’s Office to Protect Tenants. He said that in the event the government intervenes, the buildings would then be controlled by a “community nonprofit.”
“When a landlord tries to push out a tenant by making their home unlivable, a team of inspectors and law enforcement agents will be on the ground to stop it in time,” he said, according to the New York Daily News. “If the fines and the penalties don’t cut it, we will seize their buildings and we will put them in the hands of a community nonprofit that will treat tenants with the respect they deserve.”
According to the mayor’s website, the city is “pursuing new local law to seize upwards of 40 of the most distressed multiple dwelling buildings annually and transition them to responsible, mission driven ownership.”
Read the entire article at Fox News.
Image Credit: Thomas Good [GFDL (http://www.gnu.org/copyleft/fdl.html) or CC BY-SA 4.0 (https://creativecommons.org/licenses/by-sa/4.0)], via Wikimedia Commons
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How is the government non-profit supposed to handle the cost of being a landlord any more economically than the not-profit circumstances forced on the current owners by laws that prevent them from raising rent?
“Non profit” is probably an understatement. Those long term tenants are probably forcing the landlord to operate at a loss.