Rent Freeze vs Reality: NYC Landlords Face Financial Collapse

What do you tell Mondani? He's sitting here. What's the conversation like? As a landlord in the Bronx. >> Well, does it make sense, Mondani, that you're doing rent freeze, that our increases are zero, >> [music] >> and insurance went up, I think last year by 20%? The real estate taxes went up, I think by 12%. Water, sewage, everything else just goes up regular increases that go up 2 3% a year. How is this going to work? >> What do you think he's going to respond? >> I think he's going to respond, I'm sorry. I feel bad. Because I think the end of the day they don't care if New York City owns all this real estate. I think half the plan is, you know, for the city to gain back a lot of the real estate. >> Wow. >> But you can't run it as a business. Look how many people have gone out of business the last few years.