Do you regret giving up a rent-stabilized apartment, even if you hate it?

[dime99]

Originally Posted by mathjak107

Also rent stabilized apartments don’t stop at 2800 a month either ...they can be still stabilized and be many more thousands a month .some approach 5k a month .

So still think stabilization is for the poor and low income ?

There are programs like the 421a program that allow developers to put up luxury market rate buildings and in exchange for tax abatements and low financing they agree to allow some of the apartments to go in to an affordable housing program while the whole rest of the development is market price ....all apartments remain stabilized ,even the market ones and only get the rent increases allowed by the board .

Once the tax abatement ends and a tenant moves out ,the apartment is no longer stabilized

How about if the tax abatement ends and the tenant doesnt move out? The apartment stays stabilized?

[mathjak107]

Originally Posted by dime99

How about if the tax abatement ends and the tenant doesnt move out? The apartment stays stabilized?

The short answer is it depends

https://rentguidelinesboard.cityofne...ts-exemptions/

[dime99]

Originally Posted by mathjak107

The short answer is it depends

https://rentguidelinesboard.cityofne...ts-exemptions/

Thank you for the helpful links!

[BrooklynT]

Life is too short to be so unhappy! You have a mate, you are not alone, move on and be happy, life is about growing! You are too comfortable, God makes us uncomfortable when he wants us to grow! I think you owe it to yourself to move on now.....best of luck to you! I doubt you will miss this apartment once you go!

[Kefir King]

Here's the possible reason to keep the rent controlled/stabilized apartment.
You meet someone and figure "this is it." Pick one apartment to live in but keep the other for several months. If the arrangement doesn't work out nobody winds up homeless.

In my case we EACH had a rent controlled apartment, him in the Village (small apt on Commerce Street $200) and me in Jersey City Heights (rent controlled larger apartment, $165.) We first tried his place and the location and the nightlife were beyond great but we soon decided too small was untenable. But we paid rent on both places for at least 6 months until we decided on FOREVER.

So make sure of your commitment and THEN abandon your "safety zone."

Never a thought of subletting because becoming a landlord, for me, would be anathema, I'm not bloodthirsty or money-hungry enough.

[stormgal]

Originally Posted by cityowl

I was literally just wondering if anyone who has had a cheap or rent-stabilized apt regretted giving it up, to move on to something larger, more expensive, etc. It is literally the title of the post.

Forgive me if you have already made up your mind, I haven't read the entire thread yet.

I had that problem myself. I had a rent stabilized apartment which was a huge one bedroom and my first. I loved the space, and the fact it even had a dining room. The building was old though and I had the occasional waterbug show up, which for me is a project to take out as I have phobia of those critters.

One day, my ceiling fell in the bathroom due to old plumbing flooding up the place. I later won a lottery for a studio which was $400 more than what I was paying. Long story short, after self-debating like you are, I winded up taking the studio because it was walking distance from my job and everything was brand new. The studio was big, but my old apartment was huge. I did not miss the old apartment at all even though I thought I would.

Reading your initial post I'd say, go for it. Don't worry about the old apartment - let it go. Personally, I would pay double to be in peace. The leaking, vermin and noise is not worth your peace of mind.

[BrooklynT]

I totally agree!