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NYC s small landlords say they re suffering, too
By FOX 5 NY Staff
Published
Some NYC landlords facing hardships
New York s ban on evictions is set to expire at the end of August. But some smaller landlords say it can t come soon enough.
NEW YORK - New York s ban on evictions, which was implemented earlier in the pandemic, is set to expire at the end of August. But some smaller landlords say it can t come soon enough.
Lincoln Eccles owns a small apartment building in the Crown Heights section of Brooklyn. The building, which has been in his family since the 1960s, has 14 units.
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FAIRFIELD-SUISUN, CALIFORNIA
Apartment buildings in New York City. Cities remain largely popular despite reports to the contrary, and rising mortgage rates won’t matter as much for housing affordability as limited supply. (Dreamstime.com/TNS)
Rent crisis spirals for landlords awaiting $47 billion in relief
More than a year since Covid-19 lockdowns put millions of apartment dwellers out of work, almost $47 billion in U.S. government rent relief is hitting the streets. For many landlords, it’s coming much too slowly.
Joaquin Villanueva, an airport janitor who owns a three-unit rental house in East Boston, had to take out a home-equity loan just to pay the bills. One tenant, eight months behind on rent, vanished one night in March. An unemployed restaurant dish washer in another unit owes $5,000.