Predatory investors beware: City is watching rent-regulation properties

The City Council on Thursday unanimously voted on the “Predatory Equity Bill,” which will create a watch list of rent-regulated buildings where tenants are potentially vulnerable to investors who may want to kick them out. The legislation requires the Department of Housing Preservation and Development to compile a “Speculation Watch List” of rent-regulated properties with sales prices that are unusually high in comparison to similar sales in the area. City officials feel that such transactions […]

Source: Real Estate

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