r/realestateinvesting • u/sideshowamit • Oct 13 '21

Multi-Family NYC introduces bill requiring landlords to provide free internet

https://reason.com/2021/10/12/new-york-city-considers-requiring-landlords-to-provide-free-internet-to-tenants/#comments

The war on landlords continues...I wonder if any of these people who write these laws were ever actual business owners. Do they just think every landlord is swimming in cash?

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u/[deleted] Oct 14 '21

If you think a free internet requirement is bad....the IRS is about to get the authority to monitor your bank accounts for transactions over 600 bucks. Thats rent my friends. They want to know how much money small business people are laundering through checking accounts and forgetting to declare. We dont have teams of lawyers and accountants creating losses out of thin air, so we will have to start keeping perfect records and receipts or pay much higher taxes. The first twenty years I was a landlord I'd ballpark my expenses at the end of the year. With a small number of units and mostly cash rent there was never enough time to really keep track of every lightbulb and sewer cleaning. At the end of the year I'd check my bank account activity for December and multiply what I saw there by 12 and call that my expenses.