Joe Cafiero shared some interesting details about what it’s like to take over buildings whose owners have essentially walked away. According to Cafiero, a receiver whom the public advocate erroneously included on the “worst landlords” list, one of the hardest tasks is collecting rent. “In most cases, the rent collection rate is 40 percent or 50 percent,” he said in a phone interview. “The tenants are not paying.” But he doesn’t blame them because of the condition of the buildings. “They’re in disrepair. Open accessways, doors, roofs are open, boilers haven’t been serviced, sometimes there’s no heat, tons of water […]

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