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My name is Jason and I live in a rent controlled apartment. I took the apartment over from my deceased father and fought somewhat hard to keep it. Legal bills upwards of $5000 to win the case at the behest of family and friends and lawyer. I wasn't too thrilled but went ahead with it and won.
Reason I wasn't thrilled is the apartment needs a lot of work (approximately $8,000 to make it live-able at a minimum standard).
I also have an upstairs neighbor whom is incredibly noisy and seriously impacts quality of life. This person is not approachable and seems to be incredibly active with music and various building projects when they are home. This intensifies around certain holidays for whatever reason.
I am ok with the renovation costs stand alone or ok with trying to just deal with noise/wait this person out but with both figured in it's a struggle to see a long term situation for me here. This person is not going anywhere obviously and its becoming a miserable experience.
It's tough to try to walk from a rent controlled apt I fought for but my quality of life is suffering and it's becoming time I can't get back and am starting to regret the decision.
Landlord is possibly willing to discuss buyout but I have not responded to their correspondence regarding that matter. Correspondence is one year stale and no follow up.
Lawyer willing to talk for 15% cut (standard I hear) but because of decent but not stellar location won't command UES numbers or even Williamsburg numbers. Let's think upper Flatbush numbers... Then taxes etc... This is Brooklyn BTW.
Rent is slightly below market.
Was thinking of going to them with flat out cash number take it or leave it but not sure what amount I should go to them with.
$15k seems close to a figure I could live with but lawyer would say that's insane. He doesn't have to live here though.
I am a single male no attachments to anything.
I can only see myself remaining sane until June.
I had to change some details slightly just in case someone is watching whom is close to this.
From landlord's perspective -- if your rent is only slightly below market, I don't see why he would have much of an incentive to offer you a large buyout.
From landlord's perspective -- if your rent is only slightly below market, I don't see why he would have much of an incentive to offer you a large buyout.
Landlord has already sent correspondence though it's dated at this point.
I'm learning, the hard way, there is NO price tag you can attach to peace and quiet. (but because of outlay and fight I have skin in the game thus can't just walk away)
Prospect Heights.
Last edited by jason7227; 01-30-2018 at 09:19 PM..
My name is Jason and I live in a rent controlled apartment. I took the apartment over from my deceased father and fought somewhat hard to keep it. Legal bills upwards of $5000 to win the case at the behest of family and friends and lawyer. I wasn't too thrilled but went ahead with it and won.
Reason I wasn't thrilled is the apartment needs a lot of work (approximately $8,000 to make it live-able at a minimum standard).
I also have an upstairs neighbor whom is incredibly noisy and seriously impacts quality of life. This person is not approachable and seems to be incredibly active with music and various building projects when they are home. This intensifies around certain holidays for whatever reason.
I am ok with the renovation costs stand alone or ok with trying to just deal with noise/wait this person out but with both figured in it's a struggle to see a long term situation for me here. This person is not going anywhere obviously and its becoming a miserable experience.
It's tough to try to walk from a rent controlled apt I fought for but my quality of life is suffering and it's becoming time I can't get back and am starting to regret the decision.
Landlord is possibly willing to discuss buyout but I have not responded to their correspondence regarding that matter. Correspondence is one year stale and no follow up.
Lawyer willing to talk for 15% cut (standard I hear) but because of decent but not stellar location won't command UES numbers or even Williamsburg numbers. Let's think upper Flatbush numbers... Then taxes etc... This is Brooklyn BTW.
Rent is slightly below market.
Was thinking of going to them with flat out cash number take it or leave it but not sure what amount I should go to them with.
$15k seems close to a figure I could live with but lawyer would say that's insane. He doesn't have to live here though.
I am a single male no attachments to anything.
I can only see myself remaining sane until June.
I had to change some details slightly just in case someone is watching whom is close to this.
What's my play here?
move ! i doubt you would get a dime if close to market .
First, what sort of work is needed in this apartment? How long has it been since it was painted? Law requires LL do so every three years, but you must request. Are appliances and or other things not functioning or whatever? Again your landlord is required to maintain certain things in the apartment. Mind you if you ask for new appliances (fridge, stove, etc....) LL can increase your rent.
Two, there is such a thing as warranty of habitability. By law your LL is responsible for providing a clean and safe apartment that is free from health issues. If your upstairs neighbor is making noise at unreasonable levels and or at all hours of day/night then it is up to your LL to sort him/her out. File a compliant (by certified or registered letter) outlining the issue. That and or have your attorney deal with the matter.
While you cannot make major structural changes to the apartment (take out fixtures and replace, etc..) you can do much on your own to spiff things up. Speak with your LL and have him come do a walk through and see if the two of you can come to an agreement.
Am I the only one here who thinks this is ridiculous? OP, you're basically extorting your landlord. I hate that "buy outs" are legal on both sides. Landlord shouldn't be allowed to buy controlled or stabilized units hoping to make a profit, and residents shouldn't be able to have their open hands out demanding money.
DO NOT go to them with a price: that will show your desperation and have them correctly think that you are likely to leave with no money on the table and that all they had to do was wait a little while.
At a rent just slightly below market, why did you fight so hard ($5,000) to keep the place, especially if you knew the place was a wreck?
Bugsy:
No paint in 6yrs, appliances are in working order. Sinks in bathroom and kitchen are dated and leaking, tile and kitchen floors need overhaul. About $4k each if worth doing at all.
Kefir:
I'm a fighter, lawyer teased me with pie in sky numbers and the prospect of permanent place in NYC forever. Landlord sent communication to talk about it no numbers quoted.
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