4 ms·

If you have an apartment that hasn't turned over for 20+ years, you can either rerent it at a low text and get sued by your tenant for lead or habitability viol

If you have an apartment that hasn't turned over for 20+ years, you can either rerent it at a low text and get sued by your tenant for lead or habitability violations, or you can borrow money and invest it at less than 2% in a renovation. Both ways you lose a fortune. Or you leave it vacant and still lose money, but you don't have to work as hard doing it

Spivak 4y ago
This doesn’t explain why they aren’t just abandoning the properties entirely. Surely not losing money at all is an improvement?
- Sakos 4y ago
  They can afford to wait and hope the regulatory landscape changes, especially considering the potential profits.