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It's not an inverse relationship. Do you think the LL will lower your rent if he can raise the stabilized tenant's rent? Keep dreaming.
All you are doing is mouthing the landlords point of view. Nothing more then a shill for the Man.
Don't worry modsquad. Evenually there will be a point where some long time rent stabilized tenants will reach market rents. I have 3 RS who are in that position.
With normal non-regulated tenants a landlord like myself will not raise their rent since its already at the correct market level however just like RS tenants currently have the upper hand by paying below rents and abuse landlords, when their RS rent reach market levels, I'm a continue increasing their rents so they are forced to OVER PAY for their apartment and they can't do nothing about it. And nope, I'm not giving those leechers any preferential rents. Screw them! Now the tables have turned...cry all you want. No more entitlement courtesy of the landlord.
A little payback and compensation for the decades of paying below market rents. Currently doing that to 3 of my long time RS tenants. How you like them apples? LOL
It's not an inverse relationship. Do you think the LL will lower your rent if he can raise the stabilized tenant's rent? Keep dreaming.
All you are doing is mouthing the landlords point of view. Nothing more then a shill for the Man.
Modsquad, be reasonable. Why do you think its ok to have RS tenants who pay below market rents to be subsidized by landlords?
Why is ok for the landlord to pay the difference in rent the tenant is not paying when it should be the City's job and responsiblity to come out of their own pockets to help them?
Don't worry modsquad. Evenually there will be a point where some long time rent stabilized tenants will reach market rents. I have 3 RS who are in that position.
With normal non-regulated tenants a landlord like myself will not raise their rent since its already at the correct market level however just like RS tenants currently have the upper hand by paying below rents and abuse landlords, when their RS rent reach market levels, I'm a continue increasing their rents so they are forced to OVER PAY for their apartment and they can't do nothing about it. And nope, I'm not giving those leechers any preferential rents. Screw them! Now the tables have turned...cry all you want. No more entitlement courtesy of the landlord.
A little payback and compensation for the decades of paying below market rents. Currently doing that to 3 of my long time RS tenants. How you like them apples? LOL
I think those old timer will move out before you have a chance to charge them double. If your last 3 RS tenants become non-RS, can you simply not renew their leases and take back the apartments?
I think those old timer will move out before you have a chance to charge them double. If your last 3 RS tenants become non-RS, can you simply not renew their leases and take back the apartments?
The 3 RS tenants I refer to are still RS tenants. Their apartments are not deregulated.
All 3 RS tenants I refer to have 1 bedroom apartments. They currently pay between $1,400 and $1,500 for a crappy, non-renovated 1 bedroom apartment. Considering this is the Bronx, not Manahattan, thats expensive rent for a 1 bedroom apartment. And the RS law requires me to renew their lease...hey at that price I don't mind if I do!
@papajohn, you are killing them by charging between $1,400 and $1,500 for a crappy, non-renovated 1 bedroom apartment. Is that above market rate? I'm in Bensonhurst Brooklyn. It is not too hard to find 2-brs with $1500, not those big classic6 2-brs, just simple legal 2-brs.
I dont believe thats correct, where do you see that ?
as far as i know buildings built after 1974 can opt out of section 8 housing after 20 years but thats it..
there is no new construction of rental buildings since the 1970's unless low income or luxury in nyc.only co-op or condo
from what i can see if you put up a rental after jan 1 1974 you could opt out.
the problem is that by not taking part in the tax abatement program the tax valuations that applied to your property were insane and you almost couldnt do the building as a rental and afford the taxes.
thats why i say im not aware of any rental buildings put up after 1974 .
the only ones i saw were subsidized low income or luxury.
So that's your answer? Sell the building? Ha! If all rent stabilized landlords sold their buildings, who's going to own them? The City right? For what purpose?
So the city can then turn the buildings into massive housing projects and rent to street low-lives, thugs, domestic violence residents with drama, drug addicts, homeless people with issues, AIDS patients via drug use who've had a rough upbringing to further blight NYC communities where there is still a glimmer of hope to improve these communities?
If rent stabilized landlords were to sell their buildings...that's exactly what will happen. The City takes over and turns it into a ghetto residential building full of destitutes and the City will sugarcoat it calling it "AFFORDABLE HOUSING" to make it appear they're improving the community....haha, yeah right. That's all a front!
No...you sell it to a big-time landlord who can actually afford the upkeep. Its the little guys that own 1 building that are whining rent control this and rent stabilization that. And to top it off, its the little guy that either A. owns a rent stabilized building in Manhattan or B. the little guy who owns a rent stabilized building in a gentrifying or gentrified neighborhood. I don't hear the landlords in Jamaica or Canarsie complaining.
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"The man who sleeps on the floor, can never fall out of bed." -Martin Lawrence
And then you wonder why the majority of Rent Stabilized buildings look like crap and are falling apart. Hmmmmmm, think about it?
In a nutshell...Rent Stabilization creates and breeds Slumlords. Point blank. Without $$$$$$ you can't expect to have "nice" things.
Proof is in the pudding. Compare the QUALITY of a NON-Rent Stabilized building to a Rent Stabilized building....the difference is like night and day.
No lie, my first place when I moved out of my parents' house was not rent stabilized. It was decontrolled. It was a 13 unit building. My intercom didn't work, we had the occasional roach, the super was an elderly lady and all she did was put the trash on the curb, and once the landlord didn't pay the electric bill, so I was the only apartment in the building that had electricity because I paid LIPA directly. So that argument goes right out the window. It all comes down to who runs their business efficiently and who doesn't.
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"The man who sleeps on the floor, can never fall out of bed." -Martin Lawrence
7th what you are saying is sell it to a LL that can buy it for a loss...because nobody else can buy it and run it profitably. The larger LLs can because in theory they have 10 other buildings making money and for some reason want to buy something and lose money? In 2011? That strategy is purely speculatory in the hopes they can "turn the building around" by evicting current tenants and bringing in higher paying tenants...and in the meantime the LL can absorb substantial losses to buy/maintain/renovate/vacancies/litigation etc. That's not a solution as we know the endgame: abandonment/defaults.
I will agree though that it is often the little guys who get hurt the most, but the only reason they are not whining as much in Jamaica or Canarsie is because the rent vs expenses crisis hasn't reached there...yet. But that's changing...
I think we can all agree that rent stabilization used to be necessary, but now has become abused by special interests and politicians looking to score points at the expense of everyday NYers, LLs, residents, taxpayers, and the city.
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