A successful New York City landlord\u2019s high-flying career has come to a spectacular end after he was arrested at dawn and indicted on 20 felony charges. He is now looking at 25 years in jail.<\/p>\n
Harassing Tenants<\/strong> Rent Controls in NYC<\/strong> Whereas in the UK, a landlord can put the rent up if market conditions change, NYC landlords don\u2019t have the same freedom. However, there is not a lot they can do about this and quite clearly, hiring a corrupt cop to threaten tenants into leaving (as Croman is accused of doing), is a one-way ticket to a prison.<\/p>\n As the Attorney General Eric Schneiderman said,<\/p>\n \u201cMy message to unscrupulous landlords is simple: if you put your own profits over your tenants\u2019 legal protections, we will investigate you and prosecute you to the fullest extent of the law.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":" A successful New York City landlord\u2019s high-flying career has come to a spectacular end after he was arrested at dawn and indicted on 20 felony charges. He is now looking at 25 years in jail. Harassing Tenants Steve Croman has … Continue reading
\nSteve Croman has made a fortune in recent years buying up buildings in Manhattan\u2019s more gentrified areas. As a result of his success, Croman has been mixing with the social elite and enjoying a prestigious lifestyle. Unfortunately, he has now been accused of harassing tenants into leaving their rent controlled homes and inflating his rental income<\/a> in order to take out fraudulent loans worth millions of dollars, so at this point in time, it really isn\u2019t looking good for Croman.<\/p>\n
\nRental properties in NYC are strictly rent-controlled. Landlords can\u2019t raise rents<\/a> unless a tenant voluntarily moves out and the property requires substantial renovation. Understandably, this creates a problem for landlords who own buildings with long-standing tenants.<\/p>\n