From CityLab is a story, Landlords Are Using Next-Generation Eviction Tech. As noted in the sub-headline, “as tenant protections get stronger…landlords use software to manage delinquent renters. But housing advocates see a tool for quicker evictions.” This system seems to merely automate a highly-manual and time-consuming process.
Putting too hard a thumb in the scale for tenants may result in unintended consequences for the very tenants policymakers are trying to protect. Following a number of unprecedented local “pro-tenant” laws in New York City, sales of apartment buildings in the city fell by 40% in 2019. The CityLab story notes that “[b]uilding owners are convinced that it’s now too difficult to raise rents, even to recoup the costs of maintenance or improvements. So investors are steering clear of rent-regulated units, instead pursuing market-rate buildings at higher prices, analysts say. These changes — above all the repeal of vacancy decontrol and the vacancy bonus — are even prompting some landlords to hold units vacant.” The CityLab story cites back to several interesting articles that further this point: Carmiel, Oshrat, NYC Apartment Building Sales Plunge After New Rent Law Dents Values, Bloomberg, Jan. 27, 2020, and Geiger, Daniel, Held back by rent reform: Landlords decide it’s too costly to repair certain units, Crain’s, Feb. 20, 2020.
Eric J. Ellman is Senior Vice President for Public Policy and Legal Affairs at the Consumer Data Industry Association (CDIA) in Washington, DC. He also served for eight months as Interim President and CEO of the Association. More