This Proposed NY Senate Bill Scares Me!
https://www.nysenate.gov/legis...
The above bill is very concerning to me. I have diligently paid off most of my mortgage debt and now rely solely upon rents from my very modest portfolio of properties. How can it be constitutional to force landlords to *forgive* rents for a period of several months? How is this equitable? Landlords are no different from grocers, gas stations, doctors, clothing stores, etc. We all provide basic human needs. Why would landlords be required to give their product away for free and not grocery stores, gas stations or other providers of essential products? in NYS landlords have already had to deal with the sweeping overhaul of the landlord/tenant laws. Now they want us to forgive rent? Mortgage relief means nothing--the vast majority of my expenses are property taxes, insurance, water, garbage, and maintenance. There is no forgiveness for those expenses!
This is so extraordinarily galling.