There is no such tax break.
They can write off any legitimate business expenses to offset income elsewhere, but there is no tax break for theoretical uncollected rent.
Replying to @fuelgrannie
As a LLC leaving the apartment vacant is a loss they will get a tax break as if it was a loss of income to pay the mortgages. It’s a win win for them either occupied or vacant. Especially in multi family buildings.
If you fail to understand second order consequences, you make think rent controls mean lower rents, but they’re driving shortages through warehousing and increased regulatory risks which are worsening supply shortages and pushing rents higher for most NYC tenants.
Rent controls at work.
Manhattan average rents have hit another record high: $6,865. Meanwhile, rental listings are at their lowest September level since 2019.
We can’t keep pricing people out of Manhattan. We need to build more, preserve affordable homes, and deliver real rent relief.
This guy just has one bad take after another.
Mandatory Inclusionary Housing ensures we get less housing than we would otherwise, worsening shortages and driving our affordability problem.
Pablo makes a great argument here against rent controls stabilization, or whatever you choose to call the policy that works especially against our most vulnerable.
In market rentals, landlords are incentivized to keep tenants happy so they stay in place and keep paying rent.
Another politician who doesn’t understand business.
How can a wannabe mayor not understand that rent stabilization policies make a city less affordable, not the reverse?
Today, Providence is the least affordable city in America for renters and costs are going up for everyone.
Together, we can make Providence a city all our neighbors can afford and where everyone feels welcome.
Join our movement: secure.actblue.com/donate/da…
Sounds like the money hasn’t been there to fulfill the requests that have been made for decades based on those rents.
Replying to @itscelyunique
Who paid the designer and the production crews for that labor?
Would they have done it for free?
Is there a rule that a single person requires the median home for the area?
This quoted post is unavailable.
The 3 Regulations That Make New York the Most Expensive Rental Market in the World
1. The Scaffold Law (Labor Law § 240). New York is the only state that imposes absolute liability on property owners and contractors for gravity-related construction injuries, regardless of worker negligence. The result: insurance premiums that can add 7 to 10 percent to total construction costs, carried by every project and every building owner in the state. Those costs don’t disappear; they’re built into every rent.
2. Vacancy Control. By trapping rents in place even when units turn over, vacancy control removes any path for regulated units to reach economic viability. The financial burden doesn’t vanish; it shifts to unregulated units, whose tenants effectively subsidize the frozen stock through higher rents. Meanwhile, owners keep uneconomic units offline entirely, shrinking the housing supply for everyone.
3. Mandatory Inclusionary Housing (MIH). MIH requires below-market units in new development, but someone has to pay for them: the market-rate tenants in the same building, through rents high enough to cross-subsidize the mandated units. Where local rents can’t support that cross-subsidy, or tax benefits don’t close the gap, projects simply don’t pencil, don’t get financed, and don’t get built. The mandate meant to create affordable housing instead suppresses housing production where it’s needed most.
Fixing these 3 would have a greater impact on housing quality, cost, and supply then zoning reform could ever dream of.
Speculation doesn’t cause operating costs to exceed the legal rents.
"Distress in rent stabilized buildings is rarely caused by the rising costs. Rather, it is often the result of speculative “bad bets” made by landlords who intended to push out tenants and deregulate units in these buildings." citylimits.org/opinion-the-e…
New York City rent freeze will bankrupt some landlords, could result in banks going under and having to be bailed out by taxpayers, and will result in fewer housing upgrades, more dilapidated housing, and lower housing quality & quantity: libertyunyielding.com/2026/0…

















