The Albany Business Review spoke with Jesse Holland, president of Sunrise Management & Consulting, about the new law signed by Andrew Cuomo restricting rent control policies and the effect it will have on landlords, property managers and developers.
Jesse Holland, president of Sunrise Management & Consulting — which manages about 1,500 units in the Albany region — said limiting security deposits to just one month’s rent eliminates the option of requiring two months in cases where a prospective tenant has a good job and references but bad credit.
“The very people who are the hardest to rent to, and they’re trying to protect, are the ones that will be hurt the most,” Holland said. “They’re taking away the ability to offset a credit risk.”
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