New York City's housing crisis increasingly burdens small landlords, who represent 30-50% of the rental market. These owners, of buildings with 10 units or fewer, struggle due to rising maintenance costs and difficult tenant situations, feeling unsupported by city agencies. The tenant-friendly laws implemented to curb issues with large absentee landlords have swung too far, some argue, detracting from the rights and needs of small landlords. The case of Marisol Owen highlights systemic issues faced by small landlords, ultimately threatening the supply of affordable housing.
Owen and her husband Steffan faced substantial challenges with a non-paying tenant, illustrating the systemic difficulties landlords encounter while hoping for tenant support.
Real estate experts reveal that small landlords, owning 10 units or less, own a significant portion of New York City's rental market, estimated at 30% to 50%.
Amid the housing crisis, many small landlords assert that the tenant-friendly laws have swung too far, burdening them and stifling housing supply.
Despite their struggles, small landlords contend that their advocacy needs are ignored, especially when dealing with difficult tenant situations.
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