Ken Fisher shares his thoughts on the increase in political contributions from landlords above what their trade association, the Real Estate Board of New York (REBNY), contributes as the State Legislature prepares for its most significant overhaul in decades. The article explains that before 2018, Republican control of the State Senate ensured that any pro-tenant legislation faced stiff opposition. Now that Senate control has shifted, REBNY and its members are making more extensive efforts to influence legislators about the effects of expanding rent regulations.
“Ever since [the] senate turned Democratic, if there is a call to action, it’s to make the rent laws tougher and make it harder for landlords to do business,” said Ken.
Ken also explains that it is not surprising that individual developers and landlords are increasing their donations to the Democrats in the assembly this session.
“This is grassroots democracy at its best,” Ken continued. “It just happens to be business interests that are speaking up. REBNY is a well-funded organization, but even they have limits to their resources.”
To read the full article, click here.