The concept of setting a “reasonable” limit on rent increases brings not only a ceiling on landlord conduct but also creates a universal standard. For a landlord with over ten years of experience in New York, this regulation is significant.
Published by the Manhattan Institute, City Journal explores various urban policies. As a small landlord, maintaining personal connections with tenants has been a priority. This approach typically includes using flexibility and discretion. Avoiding rent hikes for dependable tenants who contribute positively to the community has been the norm.
In recent times, however, the landscape for small landlords is shifting. Rent regulation proposals aim to protect tenants from excessive increases but simultaneously impose limits that might affect the traditional practices of small landlords.