A handful who had lived in their apartments before 1965 were covered by rent-control laws and continue on at the old rents.
He blamed the rent-control laws for the long delay.
Landlords here have complained for years that this city's rent-control laws are ruinous.
Yet because of a rent-control law he has been unable to raise most of his rents beyond what tenants paid in 1986.
A few, he said, who had moved into the apartments before 1965, were covered by rent-control laws.
This in a city with strict rent-control laws.
They feel they have won control over their property, which a harsh enforcement of a rent-control law had denied them.
It took eight months to complete the plan, which could not take effect without an amendment to the rent-control laws by the State Legislature.
With rent-control laws as they are, the private owner never had a chance.
The cause of sponsor defaults is not the real estate market, but the rent-control laws.