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So if you earn ten million per year for two, but your RS rent is only $1300 you have nothing to worry about. OTOH if you earn $201,000 per year for two *and* your RS rent is $2700 then the LL can seek to have the unit decontrolled.
A not-so-clever attempt to insinuate that this is quite common. It is not at all common and likely does not exist. Moreover, you are contradicting your own (tired) argument here - that regulation means run-down tenements, no repairs, mold, filth ... why would someone earning $10 million live in such a place. The families I know who occupy regulated units would do anything at all to get out - one woman told me one day that she would take her children and animals and leave everything else in a heartbeat. Just walk out.
Unless you mean, I dunno, an elderly man who was a hoarder and mentally ill and had millions hidden in his apartment, discovered after he died. But do feel free to provide a good number of specific examples here.
I would argue that this is not sufficient "evidence" to inspire law.
But if your income is 50K and the rent goes over $2700 you're still RS?
Yeppers,
Have posted several examples in the past of some *very* wealthy persons such as the top NYC real estate broker who is also a Coca-Cola heiress who had NYC RS apartments. In that instance the woman lived on CPS and got paid several millions to "surrender" her lease since the developer wanted to tear the building down.
You can earn millions per year and not have a thing to worry about long as your RS rent does not reach $2500 or now $2700.
As one said before now you understand why LL's really don't bother anymore with luxury decontrol. It is very difficult and expensive to prove plus the courts will bend over backwards to side with tenant.
If Cuomo wanted renters to drop dead he'd Veto anything that extended or continued Rent Control/Stabilization Statewide, then the second those leases ended those people would be SOL.
These changes made recently merely extend the absurd practice of dividing NYC renters into two classes, with absolutely no way to become upwardly mobile.
A not-so-clever attempt to insinuate that this is quite common. It is not at all common and likely does not exist. Moreover, you are contradicting your own (tired) argument here - that regulation means run-down tenements, no repairs, mold, filth ... why would someone earning $10 million live in such a place. The families I know who occupy regulated units would do anything at all to get out - one woman told me one day that she would take her children and animals and leave everything else in a heartbeat. Just walk out.
Unless you mean, I dunno, an elderly man who was a hoarder and mentally ill and had millions hidden in his apartment, discovered after he died. But do feel free to provide a good number of specific examples here.
I would argue that this is not sufficient "evidence" to inspire law.
You have been extremely active on this thread. What is common to all of your posts is a total rejection of the validity of any complaint, not even one, pertaining to the possible unfairness to owners and tax payers regarding the rent regulation system.
So I will ask you a simple question.
Do you support the law which allows a rent-regulated tenant who is paying a below market rent to maintain that status at the expense of others even though that tenant has an annual income in the hundreds of thousands?
I expect a simple answer and simple explanation (unlike the rambling, disconnected rant from you that I quoted).
If Cuomo wanted renters to drop dead he'd Veto anything that extended or continued Rent Control/Stabilization Statewide, then the second those leases ended those people would be SOL.
These changes made recently merely extend the absurd practice of dividing NYC renters into two classes, with absolutely no way to become upwardly mobile.
When you dig deeper into the details of this "deal" you understand why certain persons are upset.
Luxury decontrol even if it takes place via current RS tenant moving out instead of by income is performing as designed; slowly decreasing the numbers of units and by extension RS dies a long but almost certain death. The only reason we have seen an increase in RS units over the past few years is largely to the City forcing "affordable" housing mandates on developers. Those so called "80/20" lottery and other projects.
As have said before and shall keep repeating myself; time is *NOT* on the average (below market) RS tenant's side. They are mostly middle aged or older which means sooner or later they will die. That or have to deal with issues of aging in place. On average RS tenants are not only older than market rate but have lower incomes as well. Who Lives in Rent-Stabilized Housing? | Observer
As the wave of Boomers reach retirement and then old age, along with those who are already seniors either die off or move out of their RS apartments it is going to free up no small number of units. Bill de Boob, the City Council, the real estate lobby and anyone paying attention to this situation knows the deal; as RS units vacate they most certainly will *NOT* return to the market as "affordable" housing. But gut renovated into luxury or at least market rate rent.
So a LL cannot remodel my apartment until the rent reaches over 2700? Can someone clarify because I don't understand what that 200 dollar difference is about.
Also, are current tenants in RS building's still subject to the same 1 to 5% annual increases?
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