One of the many problems of rent controls (at least for those without an expropriatory agenda) is their effect on the value of rental buildings. This operates as a disincentive to landlords to keep their properties well maintained. Making matters worse, it obviously makes it more difficult for landlords to use those properties as collateral to finance any improvements. Worse still, under New York’s Housing Stability and Tenant Protection Act of 2019, there are strict restrictions on how much landlords can increase rent on rent-stabilized properties to cover costs such as a refurbishment before a new tenant moves in. A ...