No More Apartments for Rent
A candidate who ran for mayor of the largest city in America told residents he was going to freeze rents. This is in a city where landlords had already pulled more than 50,000 apartments off the market because it did not make economic sense to rent them. New York isn’t the only place that has overlords making decisions making it economically challenging to rent apartments. California is in a race to the bottom on that issue. The elected leaders – most of whom have never run a business and certainly never been landlords — have decided to tell people, many who have invested a large portion of their life’s savings into apartment buildings, how to run their businesses and secure the value of their investments. They always have another rule that is making it more challenging and more costly to operate. California enacted an ordinance (Assembly Bill 628) that states as of January 1, 2026, landlords must provide a refrigerator and a cooking stove or range for any lease created after that date. It makes clear neither microwaves nor hot plates will substitute for the stove/range requirement. Once installed these pieces of equipment must be… Read More
