Defining what constitutes a “reasonable” rent increase affects landlords significantly. It not only limits their actions but also establishes a common standard across the board.
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City Journal, published by the Manhattan Institute, explores urban policy topics in detail. As someone who has been a small landlord in New York for over ten years, I personally understand the challenges faced. Knowing tenants by name, I previously managed my properties with a personal touch, valuing flexibility and discretion.
Many small landlords share this approach. They prefer not to increase rent for tenants who are good neighbors and pay their rent on time. This practice maintains harmony and foster a sense of community.
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