In a June 2024 meeting, NYC Mayor Eric Adams addressed the contentious issue of rent increases for stabilized tenants amid a mayoral campaign where several Democratic candidates propose freezing rents. Contrary to these proposals, Adams stressed the need to protect small landlords facing rising operational costs and potential financial strain. He challenged his opponents to outline how they would safeguard these property owners, particularly small ones, who invest significantly in their buildings. His remarks reflect a pragmatic approach to rent control policies, highlighting the complexities involved in safeguarding both tenants and landlords.
"When you're not mayor, you can be so idealistic that you're not realistic," said Adams, emphasizing the importance of balancing tenant needs with those of small landlords.
Adams argued for the necessity of addressing the financial pressures on small property owners, stating, "Gas doesn't freeze, electricity doesn't freeze, insurance doesn't freeze... the cost of running a building doesn't freeze."
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