Quote:
Originally Posted by Martha Anne
Well, then, why don't you just sell the building if you get no profit? I'd like to hear your answer to that one.
And I have never lived in a NYC apartment in my life and own a single family house in Queens. I just think it is good that people can afford to stay in an apartment for decades, as MOST do not have a high income. None that I have met do!
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never try to guess peoples incomes as you havent a clue about the million or so folks out there.
ill venture to say the few out of the millions you met are not representative of anything out there where you can make a statement like that. most have incomes that do allow them to pay market rents just like the other 14 million folks who arent in these apartments.
i didnt say im loosing money. nor do we own the building. we only held a percentage of apartments when it was built. the building was taken co-op decades ago as a way of having a light at the end of the tunnel and we own a bunch of apartments.
its a waiting game for us, we wait until the tenants die,move or accept a buy out offer on their lease and we sell the apartments. we have been paying 50 to 100k to buy out the leases of our central park building.
im saying the entire process does no one any good except the small percentage of people who have been tenants for decades. we are forced giving them tenure to our property while the other 95% of the public gets nothing out this .
folks argue over this control of rents that other long term tenants have like its helping them and its not.
all of you who have not been in your stabilized apartment for decades get nothing out of the is deal. even if you got a stabilized apartment the last decade the fact its stabilized means nothing. the rents today are real world and the increases have actually been more then non stabilized the last few years.
rents went down or stayed level in most free market apartments the last few years. stabilized apartments saw increases.
the rent differences happened decades ago when rents were held artificially low for political points. those days are gone now and have been for quite a while.
if you were lucky enough to have been in one for decades then your rent slipped behind market and you got lucky but today that isnt happening anymore.
what this crap did do is stop the building of rentals in nyc since the 70's.
we have no new rental building put up in decades unless they were luxury or low income.
it certainly hurt the selection we all have as tenants
by the way we own rent stabilized apartments but are tenants ourselves and rent elsewhere and yes we are tenants in a rent stabilized building so im on both sides of the fence..
i would say landlords are still making a profit regardless but its just wrong the way the laws work. my wife has lived in this apartment for 30 years and we catch a rent break too .
i would love to see everyone here be told at work they cant get fair market wage at whatever it is they do for a living because they have to give a portion of their earnings to those in their company who have been working for that company a long time.
no can say if rents would be higher or lower for the masses if these useless controls were taken off but there is no question the selection of available rentals would be better, newer and with more amenities as new buildings would have been put up but were not.
each area would seek its own level eventually like water and rents would be fair market for that area , higher or lower.