Account information for this Lucianne member

New York City has roughly 57,000 vacant rent-stabilized "zombie apartments," many of which landlords say cost more to repair and maintain than they could legally recover in rent. To illustrate the growing problem, a group of small property owners had actors dressed as zombies march outside a Rent Guidelines Board hearing in mid-June, warning that rising taxes, insurance, utilities, unpaid rent, and court delays are pushing their buildings toward insolvency. The board responded by approving a zero-percent rent increase, delivering on socialist Mayor Zohran Mamdani's campaign promise to freeze rents while doing nothing to reduce landlords' underlying costs.