Last month, the Farmer’s Almanac projected that this summer “may bring the hottest temperatures in [New York’s] recorded history!”
So far, the Almanac’s predictions have resembled Nostradamus. If you are a landlord, this is not beneficial news.
Last month, a law was presented that would mandate landlords to maintain units below 78 degrees inside when the outside temperature exceeds 82 degrees. Why is this a “problem” for landlords? They invested in the building to make a profit.
Few things “eat up” earnings, such as air cooling a large facility when temperatures constantly hover around 100 degrees.
“Just as the landlord provides heat in the winter, they should be providing cooling in the summer,” City Councilman Lincoln Restler said.
The councilman’s suggestion may sound like noise to landlords, but it’s music to the tenants’ ears.
