U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > New York > New York City
 [Register]
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.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 05-27-2015, 05:12 PM
 
Location: West Harlem
6,886 posts, read 7,836,615 times
Reputation: 3000

Advertisements

Quote:
Originally Posted by fluttereagle View Post
I would like lawmakers to phase out rent regulation in NYC. If that isn't possible, it should at least be reformed. Possible ideas for reform:

- strict income and asset limits, verified annually
- no inheritance of stabilized leases
- periodic resets to prevailing market rate
- fines for tenants who abuse the program (i.e. live out of town most of the time and use their stabilized apartment as a pied-a-terre or rent it out for profit)

It's time to get rid of this absurd, antiquated system.
Obviously, you are from the aforementioned spot in Wyoming.

And/or have no idea how regulation works or why.
Reply With Quote Quick reply to this message

 
Old 05-27-2015, 05:13 PM
 
9,970 posts, read 8,463,156 times
Reputation: 5851
That would never happen. Either it will be allowed to expire, or it will just keep going, maybe with a little fiddling around the edges.

Quote:
Originally Posted by fluttereagle View Post
I would like lawmakers to phase out rent regulation in NYC. If that isn't possible, it should at least be reformed. Possible ideas for reform:

- strict income and asset limits, verified annually
- no inheritance of stabilized leases
- periodic resets to prevailing market rate
- fines for tenants who abuse the program (i.e. live out of town most of the time and use their stabilized apartment as a pied-a-terre or rent it out for profit)

It's time to get rid of this absurd, antiquated system.
Reply With Quote Quick reply to this message
 
Old 05-27-2015, 08:14 PM
 
5,406 posts, read 5,660,121 times
Reputation: 2395
So rent regulations all over the city is about to expire? Every unit that is rent stabilized will now be free market? That is great for my company.

What about the rest of the state and country? Do they have the same laws?
Reply With Quote Quick reply to this message
 
Old 05-27-2015, 10:59 PM
 
9,970 posts, read 8,463,156 times
Reputation: 5851
It would be the entire state, IIRC. For tenants with leases, nothing will change until their lease expire.
Reply With Quote Quick reply to this message
 
Old 05-27-2015, 11:53 PM
 
Location: New Jersey
6,043 posts, read 6,089,208 times
Reputation: 4757
It would be interesting from an economics point of view what would really happen if rent regulation ended. My theory is that a lot of people who enjoy below market rents could probably afford to pay the market rate on their apartment if they had to, and would likely do so. The trend would likely take a few years to make itself apparent. It's not as if 1 million apartments would suddenly flood the market and tank prices. There would be a lot more turnover in the ensuing years though I'd assume, as the market finds its new equilibrium, which could put some downward pressure on prices.
Reply With Quote Quick reply to this message
 
Old 05-28-2015, 06:25 AM
 
328 posts, read 230,876 times
Reputation: 553
I would prefer that government stay out of the housing market entirely. But if it must assist people with their housing, it should be done through vouchers. And vouchers should only be given to those in need.
Reply With Quote Quick reply to this message
 
Old 05-28-2015, 07:07 AM
 
197 posts, read 388,665 times
Reputation: 163
I think the biggest thing we will see is neighborhoods get "cleaned up", one of the biggest problems of RS is not the limit on rent increases, but the fact that your MUST renew their leases for as long as they want.

So you have buildings with undesirable people, ruins it for the good people that otherwise might want to live there.
Reply With Quote Quick reply to this message
 
Old 05-28-2015, 07:44 AM
 
Location: Brooklyn New York
15,237 posts, read 23,786,423 times
Reputation: 19902
The biggest problem with RC RC is that the LL has to renew the lease for ever, and the tenant knows it.


I don't think that the granddaughter should get the apt when the original tenant dies. The lease should die at that point also.


I am all for getting rid of it all together, or at least like one of the posters said, modify a few rules.

Like the tenant should be responsible for paining, NOT the LL, the tenant is living there, let them paint. Why should the Ll have to paint every what ever years
Reply With Quote Quick reply to this message
 
Old 05-28-2015, 08:54 AM
 
2,682 posts, read 3,578,414 times
Reputation: 3093
I agree with those who say it should be by income. Just like section 8, it should go by how much someone makes and if they hit the market rate for their area then *poof*, it's deregulated.
Reply With Quote Quick reply to this message
 
Old 05-28-2015, 09:12 AM
 
9,970 posts, read 8,463,156 times
Reputation: 5851
No rent stabilized lease is more than two years long. So the process would take two years to complete, ans all the stabilized leases expire.

Quote:
Originally Posted by UrbanAdventurer View Post
It would be interesting from an economics point of view what would really happen if rent regulation ended. My theory is that a lot of people who enjoy below market rents could probably afford to pay the market rate on their apartment if they had to, and would likely do so. The trend would likely take a few years to make itself apparent. It's not as if 1 million apartments would suddenly flood the market and tank prices. There would be a lot more turnover in the ensuing years though I'd assume, as the market finds its new equilibrium, which could put some downward pressure on prices.
Reply With Quote Quick reply to this message
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.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:



Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > New York > New York City
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2018, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top