Jonathan Mines just posted something rarely seen from real estate professionals: a positive outlook for rent-stabilized housing. No, he wasn’t ignoring the obvious. The commercial real estate adviser dutifully disclosed the punishing terms inflicted upon owners by the Housing Stability and Tenant Protection Act of 2019: “Vacancy decontrol: gone. Units can no longer be deregulated once rent hits a threshold. They stay stabilized.” “Preferential rent: frozen. If you charged below the legal rent as a perk, that discount is now locked in for the life of the tenancy.” “IAI caps: gutted. Renovation-driven rent increases are now capped and amortized over […]

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