We certainly can understand the moral reasons behind pressuring landlords to repair their buildings (as well as the p.r. benefits), but we were a little surprised to see the banks take such an explicit stance on a related social issue:

A coalition of housing advocacy groups and two large banks that hold mortgages on hundreds of apartment buildings in New York City announced an unusual agreement yesterday under which they will use the banks’ leverage as lenders to pressure landlords into repairing dilapidated buildings.

The agreement between the coalition, Housing Here and Now, and the banks, Citigroup and New York Community Bank, represents a new weapon against landlords reluctant to make repairs. Housing advocates hope to use this tool not simply to fix leaks and crumbling plaster, but also to shore up low-income neighborhoods and make them less vulnerable to gentrification.

Banks Press Landlords on Repairs [NY Times]