Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Fredo's Big Brother isn't keen on idea of rent cancellation; so that proposal has been given the kibosh even before it got started. Now some in Albany are scrambling to come up with something that will get governor on board, and people aren't happy.
In order for rent cancellation to work, the State would have to compensate LLs or it wouldn't fly constitutionally. The State is broke, so Cuomo's resistance to the idea isn't a shocker.
In order for rent cancellation to work, the State would have to compensate LLs or it wouldn't fly constitutionally. The State is broke, so Cuomo's resistance to the idea isn't a shocker.
In order for it to work, the state should give out free property tax to NYS property which will flow into free rents.
If Cuomo claims he is feeling NYer's pain, he announce all government jobs take a 20-50% pay cut including his own salary. That may help the fiscal crisis
I work for a massive high rise, we have millions in annual expenses that are not mortgage or property taxes. Not sure how this works unless the residents do their own repairs, clean the building themselves, handle their own pest control, replace the roof, pay all the utilities, maintain HVAC & elevators, landscaping, etc..
That's why Cuomo went to see Trump to ask for money. But it's not easy because Trump can't just open the purse without congress to approve. Without a bill from the house or congress, Trump could only use whatever emergency funding available won't be enough to bailout NYC landlords. Mass evictions will happen but I am guessing some kind of rent relief may happen from congress in terms of 2nd round stimulus for people to pay their bills. But it won't be enough as NYC rents are very pricey some will be forced out or some people will just leave on their own.
Basically they're going to take that pot of $100 million feds gave New York as part of stimulus package to pay back rent for some tenants. It won't go far, and even if Fredo's Big Brother signs off on the thing devil will be in the details.
Everyone and their mother will be wanting their taste, but since money goes through landlords things would get interesting. People would have to show they were not just busted long before covid-19, but that March and April rent wasn't paid because of something related to that event. Things like loss of job or whatever, more to the point those seeking relief will need to open up their "books".
Illegal aliens and anyone else who gets most or all of their income won't qualify for this assistance as well.
Then there is fact AC may have had plans for that $100 million in all or part, and doesn't want to blow the wad on rent assistance. Especially since it is far from certain how much more if any funds will be coming NYS's way from Washington, D.C.
That's why Cuomo went to see Trump to ask for money. But it's not easy because Trump can't just open the purse without congress to approve. Without a bill from the house or congress, Trump could only use whatever emergency funding available won't be enough to bailout NYC landlords. Mass evictions will happen but I am guessing some kind of rent relief may happen from congress in terms of 2nd round stimulus for people to pay their bills. But it won't be enough as NYC rents are very pricey some will be forced out or some people will just leave on their own.
I feel this is right on. Even with the stimulus some may have fallen too far behind to catch up. It will be the only option for some people to just move and start over.
I feel this is right on. Even with the stimulus some may have fallen too far behind to catch up. It will be the only option for some people to just move and start over.
Unemployed are getting at least around $525 per week in PUA money on top of whatever state bennies. That equals a pretty nice bit of change each month, more than enough to cover average NYC rent. Then there was the $1200 in free funny money from stimulus checks. In short average NYer who is out of work shouldn't be busted. Long as they have their priorities straight paying back and forward rent shouldn't be an issue, well at least until end of July.
Main worry is for those who have been made unemployed by actions of Il Duce and Sam the Eagle, and may not return to work by end of July or even this year. Regular unemployment won't replace entire wages lost, and until things settle down there may be a shake out in NYC job market as businesses and customers sort themselves out.
Of course the huge problem is illegals and the "poor" that NYC and NYS keep telling to roll up here because they've got their back. Those who work off the books and or have various side hustles going on aren't going to be helped by this legislation. Nor do they qualify for much of federal money either due to immigration status, and or because they don't pay/file taxes that reflect true income.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
