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Whether you like it or not, poor and working class folks are here to stay and there's nothing you can do about it.
Rents are getting completely out of control while wages are staying stagnant.
One in 7 million americans out of 300 million are on FOODSTAMPS. A government subsidy.
They were not able to access their benefits yesterday in 17 states due to a supposed "error glitch" and *ish was about to be get REAL.
Oh, and many of the people affected and screaming bloody murder were from the SUBURBS (we know what this is code for, right?).
Let them get 2nd jobs like most small landlords do. If landlords can have 2nd jobs owning and running rentals, tenants can get 2nd jobs paying their bills.
For landlords like myself the risk and aggrevation of running rental apartments is another job. We want to be compensated and have it as profitable as markets allow the same as any other worker here.
Here is a secreat,sssshhhh , the only reason i am in real estate is to make money.
I borrowed 500k and had no idea how i would ever pay it back if things didn't go as planned. My reward for taking a risk that could have devasted me and for having a creative plan and partner is to have a profitable business.
It is strictly business ,i am not a charity organization. If the city wants to house the poor that is their business not mine. landlords are entitled to market income the same as anyone else is.
Last edited by mathjak107; 10-13-2013 at 03:34 PM..
Let them get 2nd jobs like most small landlords do. If landlords can have 2nd jobs owning and running rentals, tenants can get 2nd jobs paying their bills.
Agree, but when housing is subsidized, there is just no urgency and incentive.
No urgency to get a second job.
No urgency to move to greener pastures.
No urgency to do anything drastic to improve one's standing in life.
you are correct. my tenants are not tenants. they are members of my family who i am stuck with forever and who i have to decrease my profits with as expenses rise and rents lag.
but the good news is once these tenants are gone more apartments become decontrolled and the city loses even more rentals as these are co-ops and will be sold to owners..
you are correct. my tenants are not tenants. they are members of my family who i am stuck with forever and who i have to decrease my profits with as expenses rise and rents lag.
but the good news is once these tenants are gone more apartments become decontrolled and the city loses even more rentals as these are co-ops and will be sold to owners..
And you don't have to wait until they die. When I sued my landlord for repairs, I was surprised to see how many people were in housing court getting evicted. There's been a big cut in government programs, and these days its nearly impossible to get a new rental voucher long term.
"Last year, the court evicted 10,966 families, compared with 8,514 in Brooklyn, 4,606 in Queens, 3,776 in Manhattan, and 894 on Staten Island, according to city marshals. The total citywide rose 4 percent to 28,756."
And you don't have to wait until they die. When I sued my landlord for repairs, I was surprised to see how many people were in housing court getting evicted. There's been a big cut in government programs, and these days its nearly impossible to get a new rental voucher long term.
"Last year, the court evicted 10,966 families, compared with 8,514 in Brooklyn, 4,606 in Queens, 3,776 in Manhattan, and 894 on Staten Island, according to city marshals. The total citywide rose 4 percent to 28,756."
i really have nothing to evict them on nor would i want to. i do play fair ,in fact we have offers up to 100k to buy out their leases. 7 out of 9 have done so.
i really have nothing to evict them on nor would i want to. i do play fair ,in fact we have offers up to 100k to buy out their leases. 7 out of 9 have done so.
I wasn't suggesting you should unfairly evict people. I was just saying a lot of rent stabilized units have been lost just because the tenant did not pay the rent. So landlords have used evictions to get rid of rent stabilized units. Other causes of eviction include tenants who do not live in NYC (they may have even a house elsewhere that they live in) and yet these people will still hold on to a rent stabilized apartment until they get busted.
The entire stabilization system is a far cry from what it was supposed to be. All it was supposed to be was an agreement to prevent rent gouging.
You were supposed to get the fair market rate, but politicians used it as a pawn to win votes.
It has no income or net worth restrictions other than a very very high max yet everyone equates it to some poor grand mother in some hobble.
The only thing that matters is length of time in the apartment,that is it.
Well, partially because not for rent stabilized units, but the few remaining rent controlled units (1.8%) of the market, tend to be disproportionately older people. If they had children their children have their own places, so when they die or go into a nursing or whatever, the apartment can be gutted and renovated by the landlord.
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