Investors Follow Yields to Rent-Regulated Apartments
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Smyth Law's Christina Smyth (snapped with Roxy, her Cavalier King Charles Spaniel) tells us the upside comes with deregulating units. Though a difficult process, value can rise to three to five times the value at purchase.The big, bad landlord stigma is far fetched, she says. Deregulating units often is a long-term play (meaning the new owner isn't planning to kick everyone out), and landlords have to be vigilant of abuses by tenants. One client's resident was listing her rent-regulated apartment on Airbnb for more than twice her rent and pocketing the rest.