New strict NYC Rent Stabilized laws- How can we make $$. now?!
It seems that the new Rent Stabilized bill that was signed into law last week by the Governor makes it impossible to make money off rent and do a condo conversion. Any ideas?
Now "51 percent of tenants in the building must agree to purchase apartments before the conversion can be effective. It USED TO BE 15 PERCENT. Meaning we have to by out more than 3 times as many people to convert it to condos as its too hard to make money from rent"