More than 13K rent-stabilized units in NYC are sitting empty for multiple years, report finds
gothamist.com
A city Independent Budget Office report examines vacancy data from the state’s housing agency amid concerns of "warehousing."

cross-posted from: https://lemmy.crimedad.work/post/12162

Why? Because apparently they need some more incentive to keep units occupied. Also, even though a property might be vacant, there’s still imputed rental income there. Its owner is just receiving it in the form of enjoying the unit for himself instead of receiving an actual rent check from a tenant. That imputed rent ought to be taxed like any other income.

    • Olgratin_Magmatoe@startrek.websiteEnglish
      4·
      1 year ago

      it can take 30 years to pay it off.

      It can take 30 years for the tenants to pay it off. Landlords aren’t paying for that out of the goodness of their hearts. It’s instead ultimately the tenants.

      Throughout all that time they are responsible for maintenance, insurance and a litany of other things to keep it from falling into disrepair.

      They hire people to do that, they don’t do it themselves.

    • CileTheSane@lemmy.caEnglish
      2·
      1 year ago

      What do you think “passive” means in the term “passive income”? I don’t care if it becomes harder to earn “passive income”, especially if it’s coming from people just doing what is necessary to survive.