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Hey, everyone is entitled to their opinion right? That's the way I see things. I know you said you are neither democrat or republican but the simple fact that you are a landlord in NYC, you should lean and side a little more with the republicans because they too do not like rent control or rent stabilization. It's in your best interest as a landlord and as a landlord who has a huge stake in your neighborhood improving to side with the republicans because you and I both know that if RS were to end, the Bronx "hoods" would be on a fast track to being cleaned up. Meaning your neighborhood Sobro would no longer house ghetto people and your property would increase in value and you would be able to attract more desirable tenants who don't depend on handouts. Of coarse I recognize republicans are not perfect and they also support big business like the oil companies which I don't agree with BUT at the end of the day, you have to look out for your own livelihood.
I understand that Republicans are against rent stabilization/control, but that is just one issue. I don't side with them on just about anything else, so I would not support them based on 1 issue when 99 others would harm me, me friends, my family, my neighbors, and our society as a whole.
This city is so far gone down the road of entitlements, and it is such a litigious city and environment, any kind of meaningful change at this point is almost impossible. The only solution is to do things step by step..and even that isn't happening so I would not hold my breath. They just increased the rent stabilization limits...so there really isn't alot of hope.
The only thing you can do is screen the heck out of your tenants.
I understand that Republicans are against rent stabilization/control, but that is just one issue. I don't side with them on just about anything else, so I would not support them based on 1 issue when 99 others would harm me, me friends, my family, my neighbors, and our society as a whole.
This city is so far gone down the road of entitlements, and it is such a litigious city and environment, any kind of meaningful change at this point is almost impossible. The only solution is to do things step by step..and even that isn't happening so I would not hold my breath. They just increased the rent stabilization limits...so there really isn't alot of hope.
The only thing you can do is screen the heck out of your tenants.
Hey Sobro, do you have any rent stabilized tenants? I'm just curious really.
I was a landlord long ago, but I'd never do that again.
My building is not rent stabilized, although when my grandparents bought the building in the 50s it was under rent control. He took it off rent control and it never fell under the requirements for rent stabilization. It is just a 3 family. I just signed a 2 bedroom apt for $1,400 and they pay their own heat...top of the market for 2 bedrooms in the entire Bronx (with a few exceptions like Riverdale and the big lofts in Mott Haven), is about $1,500 and heat is included. So that rent is very good and indicative of the changes happening in the neighborhood, or rather the changes happening everywhere else...they are fleeing the high rents in Brooklyn so this was a deal for them!
My goal is to get the rent to $1,500 per apt (they are all 2 bedrooms). If I get another apt vacant, I will advertise it for $1,450 and see.
Ok, so maybe this is some type of naivety on my part (I've never been a renter in NYC, went straight from living at home to owning) but why on earth don't people just take the buyout when it's offered the first time around? I can't imagine that these [rent controlled/stabilized???] apartments are that stellar. Or is it that the rent is really THAT cheap that you'd turn down a nice lump of money to just find someplace else? If I had a decent job, meaning that I can afford 40x rent and live in a decent neighborhood, and was renting a crappy apartment, (and I am assuming that these rent controlled/stabilized apartments probably are), and someone offered me $50K to move, you better believe I would take it! Well, first I'd try and negotiate for more LOL, but I really wouldn't have to think too hard about taking the money. Yeah, it would be a different story if you owned the apt and someone was trying to strong-arm you out it if, but you're just borrowing it. How can you be so attached to something that you don't own that if someone gives you money to leave, you don't take it?
because unless youre leaving the city (or got into something like a mitchelle lama) you're not getting or saving anything in the long run
I have a STRONG recommendation for landlords whining about the horrors of owning buildings with tenants who have controls on rent increases and rights of lease renewal: SELL THE BUIDING.
You will probably do it at a GARGANTUAN profit.
Why spend your short lives WHINING about how unfair the system THAT YOU BOUGHT INTO is? Unless you are as old as Methusaleh, you entered into ownership in a system that was already in place, presumably with Eyes Wide Open!
There are two possible anwers:
1. You are masochists
2. You are making hefty profits.
But in either case, you got what you bargained for AND MORE and the bargain was generous to you and you have an easy OUT. So, for God's sake, STOP WHINING. If you hate it so much, SELL OUT!
What would be your reaction to a tenant who posted that he HATED HIS APARTMENT, HATED HIS STREET, Hated his landlord, Hated Con-Ed, Hated the City, Hated the taxes, Hated the system?
Of course it would be "then get the Hell OUT!"
Am I right?
So why don't you landlords for whom big profits are not enough, GET THE HELL OUT? Seek your $$Millions elsewhere.
That's not all rhetorical. I'd love an answer. (The rhetorical part is that I know the answer is that you are making a VERY good return on your money, something you cannot find elsewhere, but none of you will admit that.)
Last edited by Kefir King; 06-07-2012 at 10:25 AM..
I have a STRONG recommendation for tenants whining about the horrors of their landlords who don't maintain the buildings and the "outrageous" rents and increases: MOVE OUT.
You will probably be MUCH happier and SAVE lots of money!
Why spend your short lives WHINING about how unfair the system THAT YOU RENTED INTO is? Unless you are as old as Methusaleh, you entered into renting in a system that was already in place, presumably with Eyes Wide Open!
There are 2 possible answers:
1. You are masochists.
2. You are not even paying your own rent anyway. Thank you tax payers!
But in either case, you got what you bargained for AND MORE and the bargain was generous to you and you have an easy OUT. So, for God's sake, STOP WHINING. If you hate it so much, MOVE OUT!
I have a STRONG recommendation for tenants whining about the horrors of their landlords who don't maintain the buildings and the "outrageous" rents and increases: MOVE OUT.
You will probably be MUCH happier and SAVE lots of money!
Why spend your short lives WHINING about how unfair the system THAT YOU RENTED INTO is? Unless you are as old as Methusaleh, you entered into renting in a system that was already in place, presumably with Eyes Wide Open!
There are 2 possible answers:
1. You are masochists.
2. You are not even paying your own rent anyway. Thank you tax payers!
But in either case, you got what you bargained for AND MORE and the bargain was generous to you and you have an easy OUT. So, for God's sake, STOP WHINING. If you hate it so much, MOVE OUT!
Complete avoidance of the answer to a very simple question?
Are you landlords MASOCHISTS or are you making BIG BUCKS? Or do you just like to WHINE.
It's not a rocket science level question.
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