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there is a misconception that landlords have to provide some low profit service based on costs .
but everyone else gets to earn a living at whatever the market will bare.
nyc tried that with rent stabilization so landlords took buildings co-op to escape being a political pawn.
do you know we have not had one rental building put up in nyc or the 5 boroughs since the 1970's that was not low income, special subsidized projects with income restrictions ,special situation or luxury so it escaped being regulated.
now that baby boomers who were origonal tenants and still stabilized in these co-ops are relocating , taking buyouts or dying nyc is slated to lose about 1/2 its stabilized stock over the decade.
this is what happens when you screw with peoples livlihoods.
no one landlords for the fun of it , it is a rough business dealing with tenants ,courts and the politics in areas. if there not enough profit in it we are out of there and housing shortages are the end result.. you can only manipulate markets just so long before there are ramifications to face from it.
in fact we are partners in one the most well known buildings in nyc which over looks central park. the building was a rental but was taken co-op in the 1980's.
we have been buying out leases of origonal tenants for 50-100k and selling the apartments off the last decade.
we no longer want any part of landlording after more than 25 years of dealing with it.
Landlords don't "have" to provide anything. But why is it that when the cost of providing widgets falls, the price of widgets falls but when the cost of providing rental houses goes down, rents go up?
wrong 100% about widgets not dropping.
.
as a wholesaler of 15,000 different widgets i do yearly bids for contracts on a wide assortment of items. holy cow the last 3 years wholesale prices are just getting lower and lower on all different parts.
i cannot believe how many items are cheaper today.
other costs have risen so when these widgets are turned into finished goods you might not see the drop as a consumer but you are seeing a whole lot less of a price increase then if the widgets went up in price too.
supply and demand have rentals and products marching to two drummers.
supply and demand can drive prices up even in economic downturns or if demand is weak prices can fall in downturns
rents took a massive hit here in nyc right after i bought my first property . i closed on my first co-op two weeks before the stock market crash in the 1980's. real estate plunged and demand fell off .
it took me 8 years of no to low rent increases just to break even again between rents and my expenses.
you are trying so hard to dis-credit rent increases that you are just throwing things out that have no basis or truth.
Last edited by mathjak107; 09-14-2013 at 02:39 AM..
Landlords don't "have" to provide anything. But why is it that when the cost of providing widgets falls, the price of widgets falls but when the cost of providing rental houses goes down, rents go up?
Where do burger flippers live in NYC?
burger flippers live with their moms. because when they grow up they get a real career if they strive to be succesful and not burger flippers.otherwise life with mom it is or they need a roomate .
This is precisely what I've been complaining about - I'd love to buy a house and get a fixed rate mortgage but there is a disconnect between "what I can afford" and "what is available". Why should I have to keep paying more and more and more because I can't buy a home? I can't afford a mortgage payment but I can afford a 50% larger rent payment? Why should I have to pay more over a lifetime than a homeowner and have NOTHING to show for it?
Your destiny is in your hands. You can't get a better job and earn more because you have not invested the time to get an education or training for a better job. If you want more out of life you have to work for it. If you don't want to be a renter the rest of your life, you need to start now to improve your lot in life, no one is going to hand that over to you.
Landlords don't "have" to provide anything. But why is it that when the cost of providing widgets falls, the price of widgets falls but when the cost of providing rental houses goes down, rents go up?
Where do burger flippers live in NYC?
When has the cost of providing rental housing every gone down? Inflation alone has averaged around 3% most years, so costs are constantly going up. Taxes go up, insurance costs go up, cost of repairs and maintenance goes up, and so does the rent accordingly. Why should you be exempt from the same cost increases everyone else has to deal with?
This is precisely what I've been complaining about - I'd love to buy a house and get a fixed rate mortgage but there is a disconnect between "what I can afford" and "what is available". Why should I have to keep paying more and more and more because I can't buy a home? I can't afford a mortgage payment but I can afford a 50% larger rent payment? Why should I have to pay more over a lifetime than a homeowner and have NOTHING to show for it?
This is one of the most entitled sounding posts I have ever read.
Your LL doesn't owe you low rent payments so you can save for a home. This is about your choices...move to a smaller / cheaper rental place, get a second job, cut expenses elsewhere...being able to buy a home (or not) is on based on you and your choices - not your LL's.
The cost the landlord incurs to rent and maintain the property.
I am a new landlord and I plan to keep the price the same for a couple of years to encourage my tenant to stay. Renting out a property is not an easy process. It costs money and it is time consuming. Raising the rent a couple of bucks in the short term does not make sense to me. I am thinking long term.
I am also a new renter. The rent has already been raised in less than a year. By the time my lease is up, it will be raised again. I've decided to move which sucks because moving is expensive.
People are constantly moving out of this place. I do not understand how profitable it is to have an average length of stay of one year. I guess the management company can do it because they have maintenance people that work in the building.
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