For multifamily investors looking to increase the value of their portfolios, rent-stabilized units “are an inefficiency,” The Real Deal’s Will Parker said on BRIC TV this week.
Parker was speaking during a segment on rent-stabilization that included Metropolitan Council’s Ava Farkas and Tom Waters, author of the Community Service Society’s “Making the Rent 2016” report.
The guests discussed the Statutory Vacancy Allowance, which grants owners the right to increase rents for stabilized units when the tenant departs. They also discussed TRD’s story last week about “demolition eviction,” a strategy that allows landlords to deny tenants’ renewals on leases at stabilized apartments.