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While I mostly agree with your comment, I think that what the landlords are really worried about is poor tenants exploiting the price arbitrage opportunity that
by danans 8y ago
While I mostly agree with your comment, I think that what the landlords are really worried about is poor tenants exploiting the price arbitrage opportunity that presents itself to them, though it may be a violation of their leases.
If anything it's the poors' cleverness that is threatening. If you read through the website of the management company mentioned here, they brag that they have been a force in shaping rent stabilized housing policy. They likely set those policies up to ensure a steady rate of return from the state, in return for stabilized rent for tenants.
Now consider that in the context of the corrupt, borderline criminal history of the NYC real estate development industry, who've not wasted any opportunity to cheat on taxes by undervaluing their assets, among other financial crimes.
Only the wealthy are allowed to play games with finance.