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Old 05-04-2016, 08:37 PM
 
593 posts, read 466,134 times
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The 9-member Rent Guidelines Board sets rents for 1 million plus rent stabilized units in NYC. They held preliminary hearings on Tuesday, May 3, 2016. According to the Daily News:

"The nine-member board voted 5-4 in favor of increases of 0%-2% on one-year leases and 0.5%-3.5% on two-year leases signed between Oct. 1, 2016, and Sept. 30, 2017."

So another rent freeze is being considered. You might recall that the RGB voted for a rent freeze in 2015 for the first time ever. Will they vote for another rent freeze this year? The final vote will be held on June 27, 2016.

Amazingly, some stabilized tenants were angry that the board did not approve a possible lowering of rents.

More info at NYC Rent Guidelines Board votes for rent hikes - NY Daily News
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Old 05-04-2016, 09:20 PM
 
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Sooner or later this will not end well for RS tenants.


Mayor de Boob and his some kind of RGB will be gone next year or four years after that (assuming the man wins re-election). Depending upon whom is elected replacement and the subsequent composition of the board these tenants had better watch out.


Then there is the fact if the RGB is going to stick to playing things by numbers they better hope and pray LL's costs remain low, nil and or otherwise negative. Sooner or later energy prices including oil and gas are going to begin to rise. That and or a very cold winter (causes increased fuel consumption which equals higher rates), will push costs up and LL's will have every right to say "fair is fair".


In the meanwhile watch to see more of the same going on in many RS buildings, or where such tenants make up a majority; they will have a roof over their heads and LL will do what is required by law, no more. Heat will reach just what the law requires, not blast furnace levels. Lobbies and common areas will be clean (though perhaps not as often), but forget about painting/redecorating...
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Old 05-04-2016, 09:50 PM
 
1,998 posts, read 1,869,555 times
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Quote:
Originally Posted by BugsyPal View Post
Then there is the fact if the RGB is going to stick to playing things by numbers they better hope and pray LL's costs remain low, nil and or otherwise negative. Sooner or later energy prices including oil and gas are going to begin to rise. That and or a very cold winter (causes increased fuel consumption which equals higher rates), will push costs up and LL's will have every right to say "fair is fair".
Energy by itself is cheap, however, Con Edison scams you with delivery charges that is built into how much energy you use. Con Edison is allowed to change their prices on a monthly basis, so they can make up any revenue shortfall by transferring the cost to the customers.
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Old 05-05-2016, 01:17 AM
 
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The rent increase percentage for a building should be exactly the same as the percentage it's property taxes increase.
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Old 05-05-2016, 04:20 AM
 
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so there was no rent increase this year so our building we live in raised the cost of parking spots by 40 bucks a month to 190 dollars .
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Old 05-05-2016, 04:35 AM
 
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Quote:
Originally Posted by BugsyPal View Post
In the meanwhile watch to see more of the same going on in many RS buildings, or where such tenants make up a majority; they will have a roof over their heads and LL will do what is required by law, no more. Heat will reach just what the law requires, not blast furnace levels. Lobbies and common areas will be clean (though perhaps not as often), but forget about painting/redecorating...
In my building they stopped blasting the furnace levels already several years ago. There was also a change of ownership more recently and since then there have also been some hot water issues (besides heat being kept at the min. most of the time). The building was recently redecorated by new landlord/management company and there has been no change in the cleaning level of the public areas (and that could only happen if they fire the building porter).
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Old 05-05-2016, 05:07 AM
 
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our building has been going the opposite way . they are doing capital improvements like crazy .

all areas are being redone . the building offers 24/7 guard posts , pool , tennis courts and laundry service that even does your laundry .

the building has a high turnover since many folks are wealthy and use it as a place to live for a year or so before buying a place .

so the apartments are hit with every possible dollar allowed for capital improvements and many apartments are already over the limit for destabilization . they are trying to get a luxury building image justifying the rents .

in all of bay terrace there are only 2 pure rental buildings out of all the buildings . everything else is condo or co-op for rent
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Old 06-21-2016, 07:14 AM
 
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City Council speaker pushing for another rent freeze for tenants - NY Daily News

City Council Speaker Melissa Mark-Viverito came out in favor of another rent freeze for stabilized tenants. The Rent Guidelines Board is holding hearings this week and will make the final decision on Monday, June 27. The increase for 1-year leases will be between 0% and 2%.

She cited wage stagnation as one of her reasons for advocating a freeze. Interesting, I didn't think the decision was based on income in any way.
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Old 06-21-2016, 05:17 PM
 
Location: North NJ by way of Brooklyn, NY
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Interesting. Our lease is up November 1st, however last year they sent me the renewal to sign as early as late August. I guess I'll take the 2 year this time just to be on the safe side, which I believe only increases our rent by $25. After that, then we will have to look at moving either further out or NJ if RS is done away with.

It's not that we can't afford some of the NYC rents, it's that I refuse to pay $1800-2000 for a 1BR. For that I'll pay a mortgage someplace else.
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Old 06-21-2016, 05:42 PM
 
701 posts, read 346,585 times
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Quote:
Originally Posted by fluttereagle View Post
City Council speaker pushing for another rent freeze for tenants - NY Daily News

City Council Speaker Melissa Mark-Viverito came out in favor of another rent freeze for stabilized tenants. The Rent Guidelines Board is holding hearings this week and will make the final decision on Monday, June 27. The increase for 1-year leases will be between 0% and 2%.

She cited wage stagnation as one of her reasons for advocating a freeze. Interesting, I didn't think the decision was based on income in any way.
The public is not aware that a rent-stabilized tenant could have an income of a billion $ and still remain rent-regulated (if the legal rent is under $2700).
The politician to which you refer, as well as the other leftist politicians who control NYC, claim low income as a basis for the RGB decision, but ignore high income. So it's all BS.
I have a rent-stabilized tenant whose income is about $300,000. His rent is about 50% of market, and that percentage is going lower because of the rent freezes and/or insignificant increase under de Boob. He owns a mansion-like house outside of Boston where he spends most weekends. He lives here Mon-Thurs because he works in the city (a CEO). So he basically uses this large apartment as a pad for sleeping during the week. There's absolutely nothing I can do about his dirt low rent or his occupancy of the apartment.

The very well-organized, very activist rent-regulated tenant lobby has always blocked any state law to survey tenant incomes or tie rent increases to income in any way. Assets have absolutely no effect either. A tenant could have mansions across the country, millions in the stock market, and it means zilch.

As long as Cuomo is governor and the state assembly is Democratic things will not change or more likely to continue getting even worse. And if the Dems kill the very slim Republican control of the Senate then things will get a LOT WORSE very quickly. The only time in the 75 years of rent control history in which rent regs were somewhat loosened was during the Pataki years, but Cuomo has reversed most of those gains. Owners are now getting squeezed in a vice between Cuomo at the state level and de Boob at the city level.

It's a shame that free-market tenants and tax payers do not understand how rent regulation negatively effects them. About 15 years ago, a referendum was somehow managed to be put before Massachusetts voters which gave them the opportunity to decide if rent control is advantageous to the majority of the population. After the pros and cons were publicly aired and debated, the people overwhelmingly dumped the rent control system. If only the people of NY State had the chance to understand the horrible effects on the housing supply that rent control has had over the decades, and still has, they would do the same. 93% of housing economists, from liberal to conservative, agree that "rent control is destructive to both the quantity and quality of the housing stock".

Rent control is a totally political animal. It has nothing to do with maintaining the rental stock. In fact it does the opposite. And the no-good politicians are well aware of this. So it has to be resolved politically. The general public has to wake up to this so pressure can exerted on the politicians. The question is: HOW???
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