Landlord representatives such as CHIP and RSA are suing New York over rent control laws. They are arguing that the law is an unconstitutional violation of the fifth amendment, it forces landlords to continue to have underpaying and non-paying tenants. Another argument includes the economic impact of rent stabilization on landlords and how it can be very harsh. The landlords are also arguing that this law takes away their due process rights, as it is irrational. The court however, has rejected those claims as they do not see fully developed “injuries.” For the first time in a century, the Second Circuit Court of Appeals will be able to put limits on runaway rent control laws. For more information check out the link below.
Is this the beginning of the end of draconian rent control in New York City?