Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I live in a very tiny shoebox studio apartment in Hamilton Heights. I pay the preferential rent of $1144 and the 'legal rent' is like $2200. Believe me if you saw my apartment you would roar with laughter at the idea of anyone paying $2200 for this apartment in this building with my landlord. If I could afford $2200 in rent I would be living elsewhere - love this neighborhood but definitely would not be living in my building. If I moved in today I think the preferential rent would be $1300.
I live in a very tiny shoebox studio apartment in Hamilton Heights. I pay the preferential rent of $1144 and the 'legal rent' is like $2200. Believe me if you saw my apartment you would roar with laughter at the idea of anyone paying $2200 for this apartment in this building with my landlord. If I could afford $2200 in rent I would be living elsewhere - love this neighborhood but definitely would not be living in my building. If I moved in today I think the preferential rent would be $1300.
If you don't mind me asking, how many square feet?
Everyone on this site with a rent stabilized apartment is paying below market rate ?
I'm not. There goes your argument.
Rent control is a nutso program for sure. As well as affordable housing lotteries.
I would guess that most who live in rent stabilized apartments in the outer boroughs are paying very near market or market rate. Where you'll find those paying well below market in RS apartments is in the borough of Manhattan. Even then it's most likely those who were in their apartment since the mid 2000's.
Yea, housing lottery has to go. It makes no sense and benefits the few at the expense of everyone else and puts tons of money in the pockets of rich developers at the expense of the tax payers.
I live in a very tiny shoebox studio apartment in Hamilton Heights. I pay the preferential rent of $1144 and the 'legal rent' is like $2200. Believe me if you saw my apartment you would roar with laughter at the idea of anyone paying $2200 for this apartment in this building with my landlord. If I could afford $2200 in rent I would be living elsewhere - love this neighborhood but definitely would not be living in my building. If I moved in today I think the preferential rent would be $1300.
Hey bud. You live in my hood! Yea, I love HH as well.
I just want to make sure that you do understand that your preferential rent can be upped or eliminated at any lease renewal. They can up it all the way up to the legal rent rate. So if you think they would charge you 1300 if you moved in today, expect that when your lease renewal comes up.
But yea the legal rent is just a part of the law. Most landlords want to get the legal rent up to 2,700 so they can deregulate when you move out.
that is the game plan in the building we live in . they constantly get capital improvement increases . many apartments are very very close to the point where they will deregulate when vacant
I posted these links in another thread a couple of months ago. They show that 31% of occupied rent-stabilized apartments are being charged preferential rents.
I moved into a rent-stabilized 1-br apartment in Queens last year and pay the maximum legal rent. The rent is below the advertised range of $1600-2200 that I see on sites like Streeteasy for my neighborhood.
However, my place is on the small side (~600 square feet) and has an older kitchen and bathroom. My landlord could have easily increased rents to the advertised range if he did a gut renovation. The formula is legal rents can go up by 1/40th of the total capital improvement cost (or 1/60th if it's a larger building). So if the landlord put in $10,000-20,000 of renovations, he could have raised the monthly rent by $250-500.
I didn't know anything about rent stabilization before my current apartment. But I'm pretty sure my previous apartments in Manhattan were rent-stabilized because the leases had a section that said the landlord could charge a much higher amount. I always ignored that part because the numbers were so ridiculously high compared to my actual rent.
I moved into a rent-stabilized 1-br apartment in Queens last year and pay the maximum legal rent. The rent is below the advertised range of $1600-2200 that I see on sites like Streeteasy for my neighborhood.
However, my place is on the small side (~600 square feet) and has an older kitchen and bathroom. My landlord could have easily increased rents to the advertised range if he did a gut renovation. The formula is legal rents can go up by 1/40th of the total capital improvement cost (or 1/60th if it's a larger building). So if the landlord put in $10,000-20,000 of renovations, he could have raised the monthly rent by $250-500.
I didn't know anything about rent stabilization before my current apartment. But I'm pretty sure my previous apartments in Manhattan were rent-stabilized because the leases had a section that said the landlord could charge a much higher amount. I always ignored that part because the numbers were so ridiculously high compared to my actual rent.
So what are you paying and in what neighborhood? Likely pay more for one of the studios I live in, which is $1600 outside of Manhattan.
No, am thinking it's the other way around. Asked what the *dollar amount* is that you pay? Did not say in your post, and only said *Queens*. The *advertised* amount tells us nothing, but that you may pay less than that (according to you).
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
The *advertised* amount tells us nothing, but that you may pay less than that (according to you).
