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All zoning, which exists to set a limit on density in any given area. So for a neighborhood of 2 family houses this rule would increase density by 50% without going through the legal process of changing the zoning laws
All zoning, which exists to set a limit on density in any given area. So for a neighborhood of 2 family houses this rule would increase density by 50% without going through the legal process of changing the zoning laws
Who in their right mind will rent out their garage or basement unless they desperately need the money.....I mean like either we do this or we lose the house, I would like to see those numbers
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"The man who sleeps on the floor, can never fall out of bed." -Martin Lawrence
Who in their right mind will rent out their garage or basement unless they desperately need the money.....I mean like either we do this or we lose the house, I would like to see those numbers
Many inherited homes with no mortgage. Even with a mortgage, it makes good business sense. An extra $1000 a month is. $12000 yearly. $48k in 4 years. $120k in extra income in 10 years. Makes good business sense to rent and increase your rainy day fund or pay off your mortgage quicker.
Many inherited homes with no mortgage. Even with a mortgage, it makes good business sense. An extra $1000 a month is. $12000 yearly. $48k in 4 years. $120k in extra income in 10 years. Makes good business sense to rent and increase your rainy day fund or pay off your mortgage quicker.
My point is that nobody will even charge $1000 for a basement.
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"The man who sleeps on the floor, can never fall out of bed." -Martin Lawrence
Excerpt:To be okayed by the city Department of Buildings as habitable, the apartments must have a sprinkler system, ventilation and windows, as well as at least two ways to exit in an emergency. Landlords also have to abide by affordable housing rules that cap rents at 30% of a tenant’s income.
Opinion:
There is always a gimmick when it comes to dealing with city politicos.
In this case how can the city make money while dumping its obligation to house the poor.
Easy. Dump them on the struggling property owner. The city will save money not having to build housing.
The city will make money by having basements come up to code.
The city will make money by increasing property taxes.
This will result in more people, less spaces for cars ,lower quality of life and
the 30% rent cap based on income is a non starter. Big middle finger to this idea.
It angers me how stupid the city thinks landlords really are.............
The worst any homeowner can do is work with the city when it comes to housing .
You don't have to look further than their massive failure at N.Y.C.H.A.
It is cheaper, less riskier for home owners to keep their basements empty as they were
designed and as far away from dealings with the city until they come to terms on fairness.
And DiBlasio talks about Landlord Greed.....more like City greedier..Look who's calling the kettle black ..............
This is exactly what it is. The city talks and legislates it's responsibility onto struggling small landlords while doing nothing to actually physically provide affordable housing. (as in build actual housing).
Landlords will borrow to bring their apartments up to code. With the cap on collectible rents if one enrolls in this program plus loan payment cost, many will only see $500 to $800 monthly. But now have entitled tenants to deal with. I thinks it makes sense to keep the space empty if they can afford to.
The city does way more harm than good meddling in individual property rights.
Last edited by LOVEROFNYC; 02-10-2020 at 08:02 PM..
Reason: More info
Excerpt:To be okayed by the city Department of Buildings as habitable, the apartments must have a sprinkler system, ventilation and windows, as well as at least two ways to exit in an emergency. Landlords also have to abide by affordable housing rules that cap rents at 30% of a tenant’s income.
Opinion:
There is always a gimmick when it comes to dealing with city politicos.
In this case how can the city make money while dumping its obligation to house the poor.
Easy. Dump them on the struggling property owner. The city will save money not having to build housing.
The city will make money by having basements come up to code.
The city will make money by increasing property taxes.
This will result in more people, less spaces for cars ,lower quality of life and
the 30% rent cap based on income is a non starter. Big middle finger to this idea.
It angers me how stupid the city thinks landlords really are.............
The worst any homeowner can do is work with the city when it comes to housing .
You don't have to look further than their massive failure at N.Y.C.H.A.
It is cheaper, less riskier for home owners to keep their basements empty as they were
designed and as far away from dealings with the city until they come to terms on fairness.
And DiBlasio talks about Landlord Greed.....more like City greedier..Look who's calling the kettle black ..............
Quote:
Originally Posted by BlakeJones
This is effectively an end run around zoning regulations
Many places have already been up-zoned. You will see the effects in 10 to 15 years. Many places that once housed at maximum three family buildings are now being replaced with 8 families to 25 stories sky scrapers. Jamaica and ENY are prime examples.
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