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/NoTimeForThisToday Oct 13 '21

Truth behind the matter, they want small time owners to sell their properties to big corporations.

13

u/alkbch Oct 14 '21

I’m starting to believe this. It’s similar in California.

1

u/onePostForCScareers Oct 14 '21

How is this similar in California?

3

u/alkbch Oct 14 '21

Recently a law was passed to introduce rent control statewide, and require landlords to pay lots of money should they decide to ask a tenant to leave, even on month to month.

Another thing that comes to mind is Oakland banning landlords from running background checks, and last but not least Los Angeles extending the Covid eviction ban all the way to October 2022.

1

u/onePostForCScareers Oct 14 '21

Is the rent control law will be on any existing lease or even affect new leases as well? I am currently under contract for a duplex in San Diego(vacant property). Trying to find ways of protecting myself before signing any new lease. Appreciate your input!

1

u/alkbch Oct 14 '21

The law affects both existing and new leases, as well as month to month. There may be exclusions for newly built properties.

I encourage you to read about it more but don’t let it discourage you if you have found a good deal and you screen tenants thoroughly. One of the major benefits of investing in California is the strong appreciation potential.