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I have before and have never once gouged my tenants. If rent control was in place I would make up the difference with other units. Fact is those landlords are just bad businessman complaining about people who have very little power.
My Mom's neighbor of about 20 years bought my Mom's apartment when it went Co-Op. Pam had to pay the difference in Mom's Rent Control Rent and what the Monthly Maintenance charge was. Pam was also on the Board of Directors and was the one pushing me to keep Mom's apartment (Grandfather clause). despite if I did that, she would be the one still paying the increasing monthly maintenance fees on that apartment SHE owned.
I have before and have never once gouged my tenants. If rent control was in place I would make up the difference with other units. Fact is those landlords are just bad businessman complaining about people who have very little power.
So you’d be happy housing someone in your property for $100 a month but they are a pain in the butt and have random people staying over and they rent it out for $50 a night or more?
I might know some people that would like to live in your house are you interested?
So you’d be happy housing someone in your property for $100 a month but they are a pain in the butt and have random people staying over and they rent it out for $50 a night or more?
I might know some people that would like to live in your house are you interested?
How are they bad businessmen ?
Quote:
housing someone in your property for $100 a month but they are a pain in the butt
"However, once rent reaches $2,500, or if the tenant's income exceeds $200,000 for two consecutive years, the landlord can deregulate the apartment and bring it up to market-rates. Part of this law dictates that even if the tenant is a complete nightmare, the landlord is forced to renew their lease annually. For that reason, landlords are extremely picky when they "marry themselves" to a rent stabilized tenant."
I have before and have never once gouged my tenants. If rent control was in place I would make up the difference with other units. Fact is those landlords are just bad businessman complaining about people who have very little power.
So "gouge" other tenants instead. You are just making up garbage to try and justify a poor argument.
So "gouge" other tenants instead. You are just making up garbage to try and justify a poor argument.
Yeah that’s fair right ? Especially when the non rent controlled tenants are likely younger , earlier in their careers and likely don’t earn much money
While someone that has been working for decades most likely has a higher salary/income.
30 years ago. A brownstone in Harlem was worth a dollar. Now that very same brownstone is worth millions. Why did nyc property value go up? White American does not have enough professional jobs for its high school educated college bound populace. Thus those suburban kids have to move to nyc to find work. Suburbs need professional jobs these days.
30 years ago. A brownstone in Harlem was worth a dollar. Now that very same brownstone is worth millions. Why did nyc property value go up? White American does not have enough professional jobs for its high school educated college bound populace. Thus those suburban kids have to move to nyc to find work. Suburbs need professional jobs these days.
Yeah I heard about that . The city was basically giving them away at one point .
Seems weird you brought up “white america “ . Blacks and other non whites don’t need jobs too ?
Blacks don’t live outside of NYC ?
Can recent college grads buy a Harlem brownstone for millions ?
There are plenty affordable places with professional jobs these days .
Medical jobs , tech jobs etc .
NYC was a lot cheaper when crime was a lot worse . The same thing in L.A too .
30 years ago. A brownstone in Harlem was worth a dollar. Now that very same brownstone is worth millions. Why did nyc property value go up? White American does not have enough professional jobs for its high school educated college bound populace. Thus those suburban kids have to move to nyc to find work. Suburbs need professional jobs these days.
To be fair, the buildings that changed hands for literally $1, and many did, weren't unoccupied brownstones but rather occupied rent controlled apartments that were generating negative cashflow, and were sold by landlords who didn't have the heartlessness or risk tolerance to burn the place down, stop doing necessary maintenance, or unlawfully pressure the tenants out to those that did. Rent control lets bad actors make a bundle and acquire even more property and screws and pushes out landlords with morals.
We don't feel it as much today as in the seventies ("ladies and gentlemen, the Bronx is burning") because inflation is relatively controlled but let cashflow get negative on controlled and stabilized units and the genie will come back out of the bottle.
To be fair, the buildings that changed hands for literally $1, and many did, weren't unoccupied brownstones but rather occupied rent controlled apartments that were generating negative cashflow, and were sold by landlords who didn't have the heartlessness or risk tolerance to burn the place down, stop doing necessary maintenance, or unlawfully pressure the tenants out to those that did. Rent control lets bad actors make a bundle and acquire even more property and screws and pushes out landlords with morals.
We don't feel it as much today as in the seventies ("ladies and gentlemen, the Bronx is burning") because inflation is relatively controlled but let cashflow get negative on controlled and stabilized units and the genie will come back out of the bottle.
I’m sure if they calculate what their return would be at market prices it would be a negative return .
The thing is a lot of landlords view it based on what they paid for the building 10,20 ,30 years ago .
A place like NYC or L.A the rents are high but the big money is in cashing out to a developer in the future. But that’s speculating more than investing .
There is a lot of this in L.A a duplex for say $650,000 .. but it has two rent controlled tenants . With total rents of $1500 .. Doesn’t even come close to covering the mortgage.
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You are just making up garbage to try and justify a poor argument.
