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AvalonBay expects $2M hit in 2019 from NY, Los Angeles regulations

Aug 02, 2019 - SNL Real Estate Daily
Financial Results

AvalonBay Communities Inc. expects to lose out on about $2 million in revenue in the second half of 2019 as a result of new rent regulations and tenant protections in New York and Los Angeles.

Executives said in an earnings conference call that New York's new rent laws will cost the company $1.05 million in revenue in the second half, with most of the shortfall coming from lost fees and some coming from the company's assumptions about unit turnover.

AvalonBay expects to lose another ...