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Old 05-28-2015, 09:14 AM
 
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Sometime back in the '90's, they reduced the number of types of relatives that would be entitled to succession of a stabilized lease. I don't know if Grandkids are on the list.

Quote:
Originally Posted by nightcrawler View Post
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
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Old 05-28-2015, 09:28 AM
 
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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.
This is probably the best way to regulate apartments:

- 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)
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Old 05-28-2015, 10:03 AM
 
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The last one they sort of have in the form of the fact that a LL can evict a tenant for that reason.

As to the others, there's no political way this will every happen. The tenant lobby is pushing to tighten rent regulation, not loosen it. AFAIK, the LL lobby is somewhat happy the way it is. There doesn't seem to be any group that has any political influence that would back something like this.

Either the laws will be renewed in pretty much the way they are now, or one of the controlling parties (likely the state senate), will just refuse to renew them. I consider the latter unlikely. The Republicans in the senate like having this sword to hold over the assembly Democrats every few years, to extract other concessions.

Quote:
Originally Posted by The Ryu View Post
This is probably the best way to regulate apartments:

- 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)
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Old 05-28-2015, 10:12 AM
 
Location: New Jersey
6,037 posts, read 6,078,917 times
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I find it highly unlikely anything would change at this point either. Democrats control the state senate and The Blah sure as hell doesn't want that on his head. The politics around here are just too silly for shakeups like that.
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Old 05-28-2015, 10:31 AM
 
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Bla's a spectator on this issue. This is all Albany.

The thing is, I don't know if any of the Senate Republicans have any downside if RR expires. There used to be some from the city, but now I think they're all from out of the city. But it does get them vast campaign contributions from the real estate lobby (and sometimes more, as the current set of corruption scandles is showing.)
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Old 05-28-2015, 02:00 PM
 
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the end of rent control would increase supply not necessarily lower prices
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Old 05-28-2015, 02:05 PM
 
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It would make New York City even more hostile to the middle class, than it already is. It would also increase homeless tremendously, and wouldn't stop rents from continuing to rise.
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Old 05-28-2015, 02:20 PM
nei nei won $500 in our forum's Most Engaging Poster Contest - Thirteenth Edition (Jan-Feb 2015). 

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Location: Western Massachusetts
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Quote:
Originally Posted by spicymeatball View Post
It would make New York City even more hostile to the middle class, than it already is. It would also increase homeless tremendously, and wouldn't stop rents from continuing to rise.
It only helps the middle class already living there. And their children, until their parents die either have to live with their parents or find their own non-rent regulated place.
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Old 05-28-2015, 02:22 PM
 
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Quote:
Originally Posted by nei View Post
It only helps the middle class already living there. And their children, until their parents die either have to live with their parents or find their own non-rent regulated place.
They still count too, don't they? Also they can always build or designate new rent-regulated apartments. Unless we are just OK with declaring New York City a "Rich-only" zone.
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Old 05-28-2015, 02:28 PM
nei nei won $500 in our forum's Most Engaging Poster Contest - Thirteenth Edition (Jan-Feb 2015). 

Over $104,000 in prizes has already been given out to active posters on our forum and additional contests are planned
 
Location: Western Massachusetts
45,740 posts, read 39,621,992 times
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Quote:
Originally Posted by BBMW View Post
If you're looking for a new apartment, you'll probably do better than you would currently. Those million rent regulated apartments going up to market rate in a relatively short period of time will have the effect of rationalizing the market. A lot of apartments will end up empty and on the market at the same time. Not many people alive now remember the last time this was the case. So marginal rates (rates on empty, available apartments) will come down from what they are now.
It will depend on the neighborhood. Manhattan and some trendy close-in outer borough areas would probably see some small drop in market rental rates. Other neighborhoods would be barely affected (Woodhaven, for example). The gap between market and rent regulated prices in the outer boroughs is around 20%. Remove some trendy areas (say, Astoria and Williamsburg) and it'd drop further. Difference gets even smaller as market renters aren't renting exactly the same types of buildings. Newer housing have few rent-regulated renters, for example.

http://furmancenter.org/files/Furman...n_June2014.pdf

As for the Boston situation, where landlords use the freedom to raise rents to upgrade the apartment to appeal wealthier tenants, how much that'd occur could be shown by much extra premium redone or newer apartments get. Are there enough high-income renters willing to pay extra fancier housing? Some neighborhoods, probably yes. Others, no.
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