Rent Shocks Recharge Push for New Tenant Rights in a Changing Albany (Berlin: how much, subsidized)
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Foresight is completely lacking in young people today.
But at 30 she should be old enough to know better. I've only ever applied for and lived in rent stabilized apartments. We don't come from Bookah money over here
Weren't there significantly more rent stabilized apts in this city in your youth? #Boomer #selfish
That is patently false. It is neither normal or reasonable for someone's rent to jump that high in one year. The demand is there b/c there's not enough housing. And if you're taking advantage of a supply shortage to hike up prices, it's called price gouging. That's why there's such a thing called cartels - as in oil cartels, hotel cartels, etc.
There is not enough housing because roughly 50% of the rentals in NYC are under rent stabilization/rent control/mitchell-lama rules. These apartments do not turnover therefore creating higher demand on the other 50% which leads to higher prices.
There is not enough housing because roughly 50% of the rentals in NYC are under rent stabilization/rent control/mitchell-lama rules. These apartments do not turnover therefore creating higher demand on the other 50% which leads to higher prices.
1/2 the rentals are under rent stabilization/rent control rules? Hm. We need to verify that number. I don't know if it was ever that high. Certainly, under Bloomberg, Mitchell-lama has been on the decline. Nonetheless, archaic zoning rules coupled with big developer interests and backroom deals with the current and prior mayors has been slow to increase housing stock...unfortunately, they're just not affordable for low or even middle-income dwellers. That's why too many people can't stay in one place for more than 1-2 years.
Quote:
Originally Posted by BBMW
It is because the reason it was that low was because of a special situation.
You could say that the renters who rented at low rates during the height of the pandemic were gouging the landlords
1/2 the rentals are under rent stabilization/rent control rules? Hm. We need to verify that number. I don't know if it was ever that high. Certainly, under Bloomberg, Mitchell-lama has been on the decline. Nonetheless, archaic zoning rules coupled with big developer interests and backroom deals with the current and prior mayors has been slow to increase housing stock...unfortunately, they're just not affordable for low or even middle-income dwellers. That's why too many people can't stay in one place for more than 1-2 years.
Consumer price gouging...that's a new one ;-)
OP is correct. Close to 50% of all rental units in NYC are RS/RC with the 90%+ being RS. Many RS units are practically at market rate but OP has a point that even having a RS unit at market leads to less turnover.
Furthermore , how are developers to blame? They're in business to turn a profit. If NYCs politicians have made the cost of building absurdly high, how is it their fault?
What surprised me in reading this piece was that the investor group contacted the tenant, told her how much the apartment upstairs just rented for and asked her "what do you think of that?"
What kind of bizarre, passive aggressive business model is that? If that is what they are getting, then send her a renewal with a new rent and if she declines, rent it to someone else.
What surprised me in reading this piece was that the investor group contacted the tenant, told her how much the apartment upstairs just rented for and asked her "what do you think of that?"
What kind of bizarre, passive aggressive business model is that?
Yeah. I found that to be creepy as all get out. Sounds like a strange, parental rebuke.
There is not enough housing because roughly 50% of the rentals in NYC are under rent stabilization/rent control/mitchell-lama rules. These apartments do not turnover therefore creating higher demand on the other 50% which leads to higher prices.
Land and Labor in NYC are prohibitively expensive. My parents owned a 2-family home in the Kensington section of Brooklyn near Ocean Parkway. In the 1960s many nice 6-story elevator apartment buildings were constructed along Ocean Parkway for middle-class renters. Some buildings even had garages. It's financially impossible to build apartment buildings like that for the middle-class in 2021.
What surprised me in reading this piece was that the investor group contacted the tenant, told her how much the apartment upstairs just rented for and asked her "what do you think of that?"
What kind of bizarre, passive aggressive business model is that? If that is what they are getting, then send her a renewal with a new rent and if she declines, rent it to someone else.
Quote:
Originally Posted by Aeran
Yeah. I found that to be creepy as all get out. Sounds like a strange, parental rebuke.
Transplants are part of driving up Renta in NYC. They get scammed and taken advantage. It doesn't take many "takers" to set a new market price.in any given area.
The LL is probably lying in this case and trying to see how much more the existing tenant is willing to pay or get them to move and try to find an even more gullible transplant.
Transplants also tend to live with roommates and rent by the room which also drives up rents.
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