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Tenant would be protected until their leases expired.
Certain buildings/apartments are under RS because they took tax or other benefits (such as zoning variances for inclusive housing) , and those would remain per terms of agreement until expired.
What likely would happen and should is what was done previously; and orderly phase out of RS units by decontrol at vacancy or when a household reaches certain annual income.
That sounds right. I just don't understand how it's a good thing at this time. I understand the argument a year ago, but I'm not sure right now.
I never hear of this 5% rule. Where is Mathjak107?
Maybe this is the ploy all along. LL, banks, working with govt to rid themselves of this silly welfare.
is this for each building or statewide ? Like is total of statewide vacancy, or just 5% of a building is enough to rid the one LL of that burden
Response: Welfare Silly?
It is the one most debilitating cancers. It ruins every neighborhood it encompasses.
It more importantly ruins people and the families that subsist on them and once it is
taken away many die because it has been years forgotten on how to be truly independent
and self sufficient as compared to working the bare minimum down at the local bodega stocking
shelves not because you want to but because that is all that is required to continue living your
bare existence since you have an apartment with such dirt cheap rent.
Give a man a fish and you feed him for a day.
Teach a man to fish and you feed him for a lifetime............
So - what? If rent control ends, you get higher rents, more empty apartments and more homeless people? Is that a good thing?
There's both benefits and drawbacks to the current system, but one thing everyone can agree on is it is a purely political creation at this point. I know there's loads of pensioners, low wage workers, etc who do benefit and of course I don't want to see them effected. Affordable housing is a critical part of keeping NYC a healthy place...but it's not the end all be all either.
Price controls decrease supply. Once a tenant vacates an apartment, then a landlord should have every right to make the price what they want it to be. If it's too high, then they lose money on an empty apartment. Don't look for me to be crying about that...Also, for individuals like yourself who want to come back, how does rent stabilization help you? Right now, once someone has a RS lease, that apartment is theirs and their heirs forever. Your grandkids won't even have a chance at that unit. How is that fair?
Only rent control was designed as forever, to be handed down.
Rent stabilization works differently in that it isn't passed down through the ages. When times are tough landlords can charge below what's legally allowable, and they do, in order to actually be able to rent the apartment and keep 100% occupancy. They also have the right, at any time, to go from what they charge to what's legally allowable, so if you take a stabilized apartment, you need to know the gap between the legal and preferential rent. A very political arrangement, to me, where they can, as in any market rate rental, pull the rug out from under you whenever the market heats up. You could call it a built-in instability.
I don't see it at the world's greatest program and there are a lot more flaws we could all point out, but I don't get the idea that people think it's so much cheaper and leads people not to want to work. Working people have plenty to work for, especially if they have a family, and a RS apartment isn't like $200. I paid almost $2k at the far end of Queens, 2 hours to midtown on public transportation. They offered me a new lease without an increase because there were vacancies and people weren't lining up at that price. But an increase was legal and they could close that gap at the next lease.
Also, the tenant before me was rent controlled for decades and went out in a body bag. So how did his legal rent, with the legal vacancy allowance, add up to what I was paying? I tried to get a rent history, but was told no records were kept.
To answer your question, it doesn't do me any good to have or not have the program. I just think a lot of people here have a really skewed idea of what it is.
Only rent control was designed as forever, to be handed down.
Rent stabilization works differently in that it isn't passed down through the ages. When times are tough landlords can charge below what's legally allowable, and they do, in order to actually be able to rent the apartment and keep 100% occupancy. They also have the right, at any time, to go from what they charge to what's legally allowable, so if you take a stabilized apartment, you need to know the gap between the legal and preferential rent. A very political arrangement, to me, where they can, as in any market rate rental, pull the rug out from under you whenever the market heats up. You could call it a built-in instability.
I don't see it at the world's greatest program and there are a lot more flaws we could all point out, but I don't get the idea that people think it's so much cheaper and leads people not to want to work. Working people have plenty to work for, especially if they have a family, and a RS apartment isn't like $200. I paid almost $2k at the far end of Queens, 2 hours to midtown on public transportation. They offered me a new lease without an increase because there were vacancies and people weren't lining up at that price. But an increase was legal and they could close that gap at the next lease.
Also, the tenant before me was rent controlled for decades and went out in a body bag. So how did his legal rent, with the legal vacancy allowance, add up to what I was paying? I tried to get a rent history, but was told no records were kept.
To answer your question, it doesn't do me any good to have or not have the program. I just think a lot of people here have a really skewed idea of what it is.
Lots of wrong information here .....once a landlord lowers rents he is stuck with the lower rent as a baseline ...that lower rent now becomes the legal limit , it cannot be brought back to where it was because it was lowered at one point . ....the new laws killed that .
Rent stabilized apartments certainly can be handed down forever to anyone living in the apartment who meets the criteria for succession....that is why we just dumped two rent stabilized coops for cents on the dollar .
In any case, the next survey isn't unil 2022. By then, things will be back to normal.
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