NYC Mayor-Elect Will Likely Be Able To Implment Rental Price Freeze

New York City mayor-elect Bill de Blasio told voters that he would institute a one- or two-year rent freeze if he won, and now it looks like he will be able to follow up on his promise, putting some pressure on local banks and law firms that handle evictions (representing either the tenant or the landlord). “We believe that New York City Mayor-elect Bill de Blasio will more likely than not succeed in instituting a one to two year rent-freeze in rent-regulated buildings in the city. Furthermore, rent increases in subsequent years are likely to be at a lower rate…