New York state is proposing a law that will essentially make all evictions illegal. In other words, communism stage one.
There is one glaring way out. The law only applies to owners of 5 or more rental units. We’re I an owner of a building with more than 5 units, I would form multiple real estate investment corporations, and sell units to them so that each corporation owns no more than 4 units.
Now get out.
2 Comments
Elrod · February 19, 2022 at 9:56 am
Might want to reconsider the 4 unit thing; TPTB may be stupid, but like blind squirrels they eventually find an acorn so the law will change. Do 2 or 3 instead.
Thought: Will the 5 unit thing apply to sublets?
Divemedic · February 19, 2022 at 10:05 am
I don’t know. I don’t own any property in NY, so I didn’t look that closely. There are reasons why I live in FL.
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