The Globe has a front-page story this morning on the widespread landlord complaints about the new apartment-registration law, which one local broker says will lead to a “big, bloated bureaucracy.”
That’s putting it mildly. We’d describe it as an outright shakedown of landlords with the obvious long-term prospect that the annual registration fees will become turn-to cash cows for future city administrations whenever they need money to fund other city services.
The initial registration fee is ridiculous: $25 per unit. Then it’s $15 a year per unit.
Do the math: The initial registration fee would raise about $4 million. The annual fee would raise about $2.4 million a year. Is there anyone who seriously thinks these already high fees won’t be raised in the future?
If you don’t think that, we have a bridge in Brooklyn to sell you.
To his credit, City Councilor Charles Yancey says maybe it’s time to reconsider the entire concept.
Yeah, it’s time.
File under: To the barricades!
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Updated: January 2018