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Old 02-21-2008, 01:46 AM
 
341 posts, read 839,854 times
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Hello.

I know this has been asked before, but how exactly do you go about finding a rent controlled apartment? Prior to the apartment I am currently living in San Francisco, I had a 2-bedroom in a very prime neighborhood in San Francisco for $950 a month. I've heard of possibly going through a broker, who might know of currently available rent control apartments, but I just want some advice if anyone has any.

Thanks
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Old 02-21-2008, 08:14 AM
 
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Legend has it that reading the obituaries or bribing doormen brings results. However, I have never actually met anyone who tried these tactics.
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Old 02-21-2008, 08:41 AM
 
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It's possible to find rent-stablized apartments through a broker, but not rent-controlled. Often the rent-stabilized places are apt to be near market rate anyway, but the benefit you get is quite a bit of tenant-protection in terms of not getting kicked out, and the knowledge that if your neighborhood suddenly takes off in popularity that you are not at the mercy of the landlord in terms of what the renewed rent will be. (the rent increases are regulated by the city)

I do believe that going through a broker is more likely to get you a cheaper apartment than going at it alone, but then you have to budget in the brokers fee to what you are paying up front.
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Old 02-21-2008, 01:53 PM
 
Location: No Sleep Til Brooklyn
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You have to no someone. Once you move to NYC, you have to tell EVERY person that you meet that you are looking for an apt. People with rent controlled places will sublet to you illegally. You will pay less than market and they will make a profit. I'm not saying that you should do this, but it is done.
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Old 02-21-2008, 02:16 PM
 
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Do a Google search online for NYC rent controlled apartment buildings. You will get a list of addresses that are rent stabilized. Go door to door....and be prepared to get on a list in some cases. Or else you gotta know someone. And as another post mentioned..."check the obituaries"..okay maybe not exactly...but in my experience an older woman had passed away, and someone in the building told me the very next day. The next day we went to the building and inquired about any apartments for rent. The Super told us one might be soon(i wonder which one) and we gave him our info. This was in Parkslope. I didn't end up taking it because they wanted $950 for a studio. That was before I found out that you can fight those prices. You know that the older woman was probably paying $400-$600. If you look up in the city records how much the last tenant was paying you can fight against the huge rent hike. They are only supposed to raise rent by a SMALL percentage and lots of naive renters don't know this (like me). THey think $950 is a deal. So keep that in mind incase you didnt know already. i know someone who got a pretty sweet deal buy speaking up to the city. A difference of $400 in rent / month! Anyway, glad I didn't take it they made it into condo buildings. Decided to go with living in my Grandmothers building where there is ture security.
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Old 02-21-2008, 02:43 PM
 
Location: NJ/NY
10,632 posts, read 17,215,055 times
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[quote=purrfectplace;2900752]Do a Google search online for NYC rent controlled apartment buildings. You will get a list of addresses that are rent stabilized. Go door to door....and be prepared to get on a list in some cases. Or else you gotta know someone. And as another post mentioned..."check the obituaries"..okay maybe not exactly...but in my experience an older woman had passed away, and someone in the building told me the very next day. The next day we went to the building and inquired about any apartments for rent. The Super told us one might be soon(i wonder which one) and we gave him our info. This was in Parkslope. I didn't end up taking it because they wanted $950 for a studio. That was before I found out that you can fight those prices. You know that the older woman was probably paying $400-$600. If you look up in the city records how much the last tenant was paying you can fight against the huge rent hike. They are only supposed to raise rent by a SMALL percentage and lots of naive renters don't know this (like me). THey think $950 is a deal. So keep that in mind incase you didnt know already. i know someone who got a pretty sweet deal buy speaking up to the city. A difference of $400 in rent / month! Anyway, glad I didn't take it they made it into condo buildings. Decided to go with living in I

If they get a new tenant, they can then charge market rent, if market rent is $2k or more. And that is only it if is rent "stabilized".
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Old 02-21-2008, 02:52 PM
 
12,252 posts, read 23,129,325 times
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[quote=newtoli;2901058]
Quote:
Originally Posted by purrfectplace View Post
Do a Google

If they get a new tenant, they can then charge market rent, if market rent is $2k or more. And that is only it if is rent "stabilized".
What?

This doesn't make any sense. If an old woman is paying $500 a month for a rent-stablized apartment in Park Slope (with true market rents $2200 a month in that area), and she dies, the lanlord cannot just then charge $2200 a month for the apartment to the next tenant. Which I believe is what you are trying to say.

What the landlord can do is add 18% on to the existing rent for new tenancy, and he can make lots of improvements to the space (gut renovate) and request to the rent stab. board that he be allowed to charge the new tenant a percentage for the improvements. Even just replacing a stove can sometimes add $40 per month on to a rent stabilzed rent. That's how rent-stablized rents go up.
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Old 02-21-2008, 04:03 PM
 
Location: NJ/NY
10,632 posts, read 17,215,055 times
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Quote:
Originally Posted by Henna View Post
What?

This doesn't make any sense. If an old woman is paying $500 a month for a rent-stablized apartment in Park Slope (with true market rents $2200 a month in that area), and she dies, the lanlord cannot just then charge $2200 a month for the apartment to the next tenant. Which I believe is what you are trying to say.

What the landlord can do is add 18% on to the existing rent for new tenancy, and he can make lots of improvements to the space (gut renovate) and request to the rent stab. board that he be allowed to charge the new tenant a percentage for the improvements. Even just replacing a stove can sometimes add $40 per month on to a rent stabilzed rent. That's how rent-stablized rents go up.
Actually, yes, once that tenant dies, they can charge whatever they want if the apt market value would be $2k+. The rule is that if market rent would be $2k or up, the apartment becomes unstabalized. The apartment will no longer be rent stabilized once the current tenant leaves - or if they can prove the current tenants make $175k+ in income.

* A rent stabilized apartment which becomes vacant and could be offered at a legal regulated rent of $2,000 or more per month is no longer subject to rent regulation.


NYC Rent Guidelines Board
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Old 02-21-2008, 04:42 PM
 
Location: Confines of the 101 Precinct
23,681 posts, read 37,912,963 times
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Quote:
Originally Posted by newtoli View Post
Actually, yes, once that tenant dies, they can charge whatever they want if the apt market value would be $2k+. The rule is that if market rent would be $2k or up, the apartment becomes unstabalized. The apartment will no longer be rent stabilized once the current tenant leaves - or if they can prove the current tenants make $175k+ in income.

* A rent stabilized apartment which becomes vacant and could be offered at a legal regulated rent of $2,000 or more per month is no longer subject to rent regulation.


NYC Rent Guidelines Board

you're not reading it right....it doesnt go by the market value of what the apt is worth.....if the apartment is rent stabilized and over the years, the rent stabilization increases make that apartment hit $2000 p/mo in rent, then the apartment is deregulated, and only then can the LL charge market value for it.

if the tenant dies in a rent stabilized apartment and the apartment is currently 1000 p/mo in rent, the landlord can only raise it 15% max. if he/she raises it any further, then you can find out by going to DHCR and requesting a copy of the rent registration for that apartment to find out what the previous owner paid. then if you find out that you're paying too much, you sign the lease, and take the LL to court, and if you're successful, the judge will give you an abatement.
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Old 02-21-2008, 04:46 PM
 
12,252 posts, read 23,129,325 times
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Quote:
Originally Posted by newtoli View Post

* A rent stabilized apartment which becomes vacant and could be offered at a legal regulated rent of $2,000 or more per month is no longer subject to rent regulation.


NYC Rent Guidelines Board
Exactly, you're reading it wrong. The word you're not reading right is "regulated" as in "could be offered at a legal regulated rent of $2,000 or more"

The apartment where the hypothetical old lady dies where she's only paying $500 a month could not be raised to more than $2000 at a regulated rent. Sure, if it were a market rate apartment, it could be raised to $2000 at a legal market-rate rent but not a regulated rent.
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