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Old 07-24-2008, 08:07 AM
 
1,010 posts, read 3,375,973 times
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Because that's how the system works. We'd never have gotten to this point if it hadn't been for landlords offering tenants money (beyond moving costs, etc) to terminate their leases to begin with--they started this practice.

 
Old 07-24-2008, 08:09 AM
luv
 
50 posts, read 150,832 times
Reputation: 30
Quote:
Originally Posted by joachim View Post
So since you would like to move I would try with eg 250k and see where that takes you.
This figure is so laughable its silly. My father owns a few buildings and his despicable tenants have tried to scam him too. He gave one person $3,000 and they were lucky they got that. The idea that anyone would pay someone $250,000 for their own apartment is so ridiculous its silly. We'd just wait the person out rather than paying for our own unit. Its the principle of the thing. Eventually they will get married and need a bigger place, they will want to move like the OP, they'll get sick of living in some disgusting apartment that hasn't been renovated in decades (as renovations are not required and dont happen to rent stablized units), or they'll die..
 
Old 07-24-2008, 08:42 AM
 
Location: NYC
172 posts, read 418,984 times
Reputation: 120
I think all this stuff about moral values and who "deserves" what is plain silly.

She has the right to that apt. under the law. The owner has the right to make a deal with her to get more value for that apt. And if you want to toss in the "moral" question, just for kicks, one could argue, regardless of whether the decision to rent was the best one, that this person has in effect "invested" the largest portion of his life living in that apt. This wouldn't matter in some places, but in NYC it obviously carries some weight or there would not be such protections in the law.

Anyway, maybe some folks will come up with recent numbers from actual experience. Me, I knew of somebody in my old building, a slummy tenement in the W. 50s over by 11th Ave., who told me he was bought out for, I think it was 20,000. This was pre-bubble, though, back in 1997. It all depends on how the numbers work for the owner ... and naturally, you won't get full value. Can't say whether 100K+ would be possible, but ya never know. Do the math and try, eh?
 
Old 07-26-2008, 12:16 AM
 
2 posts, read 12,902 times
Reputation: 16
Quote:
Originally Posted by luv View Post
Actually you've read the OP's post totally wrong. HE WANTS TO MOVE DOWN SOUTH. He's the one who wants to terminate the lease. Of course the landlord will benefit from him leaving, but it is he who wants to leave the apartment.

Stop scamming the system. Extortion is illegal. If you want to move down south, then do it. But dont expect that your landlord should have to pay for your move or new house just because he is getting HIS APARTMENT BACK. That is simply not the intention of the rent stablization laws. Be fair and ethical here.
Nope, I didn't. This question does not have anything to do with that. The point you are missing is that these two parts have a contract. Breaking the contract has a value to the landlord, keeping the contract has a value to the tennant. So the landlord should compensate the tenant. He owns the appartment but the tenant owns the right to use it. This contract is real in all respects and can not be desmissed.

This is not extortion but a bases of ours (and your) society. If people could brake contracts just like that without any consequences
then what would the world come to. You should not confuse by bringing moral into the equation, this is not a question about moral!
 
Old 07-27-2008, 12:26 PM
 
Location: East Village, NYC
217 posts, read 816,561 times
Reputation: 94
Don't leave until you are FORCED to leave. Do it all legally and you'll be all right. Otherwise, you should've bought. Ownership is king and it is good to be the king.
 
Old 07-27-2008, 12:48 PM
 
Location: Charlotte, NC, USA
392 posts, read 1,262,140 times
Reputation: 260
Now, I'm no expert on rent stabilizing contracts, but it appears to me that this contract is not too different from, say, the jet fuel option contracts Southwest Airlines purchased years ago that allows it to obtain jet fuel at prices far below current market rates. Those option contracts are worth money in of themselves, and if Southwest decided for some reason that it did not need these contracts anymore, it should be able to get some decent money for them. Is it immoral for Southwest to force it's fuel suppliers to sell it fuel at discounted rates?

When the landlord bought that building, he also bought those contracts.
 
Old 07-27-2008, 01:35 PM
 
1,867 posts, read 3,598,380 times
Reputation: 589
I am sure the purpose of those contracts you mention are far different than rent stabilized housing, which is supposed to provide for affordable housing. If you earn a higher income, you are no longer even eligible for the rent stabilized apartment. Why use this as a justification to extort money from a private owner of property.

Landlord's costs are higher than the income they receive from these units. People forget these are PRIVATE buildings, not public housing. Landlords are forced into providing housing for lower than market value, while they pay market rates for electricity, water and maintenance.

So personally if I was the landlord I would realize that the OP really does want to move down south, hence why the OP approached the landlord, he's fed up with living in a **** hole apartment and as the landlord I'd give him a few thousand bucks to help with moving costs. If the guy wanted to stay because I wouldn't fork over tens of thousands of dollars, then he would shoot himself in the foot and get stuck continuing to live in a nasty dingy old apartment while he really wants to be elsewhere, finally after like 18 years in a dingy unrenovated place. That result would be on him and I'd get the last laugh, cuz eventually he will indeed get tired of it and leave.
 
Old 07-27-2008, 02:54 PM
 
2,742 posts, read 6,739,999 times
Reputation: 502
Quote:
Originally Posted by lbjcats View Post
Hi, Everyone,

I've lived in my rent-stabilized apartment in midtown Manhattan for 35 years. The building was converted to a coop about 20 years ago, and I decided not to buy (the mortgage and the maintenance charges would have been double my rent and I couldn't afford it even though in hindsight I should have since I could have bought for $80K and now my apt. is worth about 750K!).

After years of harassment by the landlord to evict me and my cats, I'm now finally looking to move out-of-state, and want the landlord to pay me a buyout/termination fee that's appropriate to the circumstances. How do I calculate the right amount to ask for? My rent is $1001, and could be rented for 3 times as much (though the landlord will probably sell the apt. for $750K plus). The landlord has asked me to name my price and he will consider it or reject it and continue to offer me renewal leases.

Can anyone give me the logic and amount of the buyout which is likely be accepted by the landlord? I really want to move down south and buy a home (they're very cheap in Alabama and Georgia, where I can get a 3-bedroom, 2 bath lovely home for $100-120K!). I don't want the landlord to reject my figure but I want to get whatever I'm due for this valuable lease.

Many thanks, in advance, for your help!

"lbjcats"
Isnt this ilegal???
 
Old 07-27-2008, 03:00 PM
 
2,742 posts, read 6,739,999 times
Reputation: 502
Quote:
Originally Posted by luv View Post
Actually you've read the OP's post totally wrong. HE WANTS TO MOVE DOWN SOUTH. He's the one who wants to terminate the lease. Of course the landlord will benefit from him leaving, but it is he who wants to leave the apartment.

Stop scamming the system. Extortion is illegal. If you want to move down south, then do it. But dont expect that your landlord should have to pay for your move or new house just because he is getting HIS APARTMENT BACK. That is simply not the intention of the rent stablization laws. Be fair and ethical here.
Yes this is extortion and is illegal..
What I would do, as a landlord is go to him to have a conversation and to talk about the deal.. also record the conversation. Since NY state allows you to record conversation with only one party knowing about it,, you can record someones conversation without him knowing it...
 
Old 07-27-2008, 03:02 PM
 
2,742 posts, read 6,739,999 times
Reputation: 502
Quote:
Originally Posted by AlexisT View Post
Because that's how the system works. We'd never have gotten to this point if it hadn't been for landlords offering tenants money (beyond moving costs, etc) to terminate their leases to begin with--they started this practice.
that doesnt mean is legal.
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