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If the City raises people's taxes a half a percentage or whatever to make this program available, then so be it! We as a PEOPLE and as a WHOLE should all take the financial burden and not just place the whole financial burden SOLELY on the landlord's shoulders...it's not fair!
Why should Landlords act like a CHARITY? That's the City's responisblity to dish out money to the less fortunate NOT Landlords.
DAS that is not the only way for it to happen...but it is a common way for it to happen because defaults have been so common due to (guess what!) rents that are so out of wack with expenses. At one point I had a strong interest in becoming a large property owner (10+ units) but the Value to Rents are so crazy that the only way to purchase is by effectively losing money for years in the HOPE that in 10 years the value increases enough to offset the losses from rent, repairs, taxes, utilities, etc. And the only ones able to lose globs of money for years are those with deep pockets who have the least interest in the Tenants and community. It is an unfortunate circumstance that is hurting everyone, including the Tenants.
This post is absolutely correct except the last sentence. Chances are if you live in a rent stabilized apt you are not getting the best. But this is what tenants have to settle for if this is all they can afford.
For landlords they know or should know what they are getting into. The scenario that you have so eloquently described has been going on for about 50 years now. I could not afford to buy an entire building in NYC, however I have checked into it. I am alway dreaming big. However I don't want to dream dreams that cannot possibly come true.
So I did my homework concerning NYC properties and I spoke to some very successful people that got out of the landlord business in the 70's because they were able to see that the tide was turning. Some stayed in it, and starting loosing, and then sold. But I knew it was not something that I could do. I don't have it like that to buy let alone loose.
So if these people have enough money to buy only these types of properties they certainly have a lot already. They should build up more money and buy better properties with all market rate tenants. This way even if the neighborhood changes, they don't have to put up with non and low paying renters. They already have the experience where they were able to build enough wealth to buy those buildings, they should have sold like the others that saw the tide turning, if they bought early on. The ones that bought later on did not do their homework. The information was all out there.
If the City raises people's taxes a half a percentage or whatever to make this program available, then so be it! We as a PEOPLE and as a WHOLE should all take the financial burden and not just place the whole financial burden SOLELY on the landlord's shoulders...it's not fair!
Why should Landlords act like a CHARITY? That's the City's responisblity to dish out money to the less fortunate NOT Landlords.
the burden is on the landlord's shoulders because they own it. if they cannot afford to provide the services then they have a problem.
FYI, the landlord does not have to renew a person's rent stabilized lease if they file what is called a GOLUB notice.
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"The man who sleeps on the floor, can never fall out of bed." -Martin Lawrence
a Golub notice is a notice of the non-renewal of the tenant's lease. it must be served to the tenant by a process server no less than 90 days, no more than 150 prior to the end date of the lease. you file the notice in court and get an index number, then wait 5 months before the lease is up, and get a process server to serve it. then if the tenant doesnt move before the lease ends, a warrant of eviction is issued, and the marshal executes the warrant.
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"The man who sleeps on the floor, can never fall out of bed." -Martin Lawrence
a Golub notice is a notice of the non-renewal of the tenant's lease. it must be served to the tenant by a process server no less than 90 days, no more than 150 prior to the end date of the lease. you file the notice in court and get an index number, then wait 5 months before the lease is up, and get a process server to serve it. then if the tenant doesnt move before the lease ends, a warrant of eviction is issued, and the marshal executes the warrant.
oh, forgot one thing. the landlord cannot accept the rent from the tenant from the time when the notice is started in court otherwise that jeopardizes the notice.
so although a long process, i just gave the landlords firepower, even though i'm for rent stablization.
I used to work for a landlord-tenant law firm.
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"The man who sleeps on the floor, can never fall out of bed." -Martin Lawrence
FYI, the landlord does not have to renew a person's rent stabilized lease if they file what is called a GOLUB notice.
From a quick search at Tenant.net, it looks as though the GOLUB notice is applicable only for landlord who suspect that their tenants aren't using the apartment as their primary residence.
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