Blaming rent law, landlords cut down on apartment renovations

Landlords have cut back on apartment renovations in New York City over the past five months, after changes to the rent law. A Wall Street Journal analysis of Department of Building records showed that 535 fewer renovation plans were commenced in rent-regulated buildings between July and November than the same time period in 2018 — a spending decrease of $71 million. The 44 percent decline on the previous year suggests owners of rent-regulated buildings were

source https://therealdeal.com/2019/12/19/blaming-rent-law-landlords-cut-down-on-apartment-renovations/