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Thread: Rent Control Questions

  1. #16
    Disgruntled Optimist lofter1's Avatar
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    Quote Originally Posted by JMGarcia
    I fail to see a good reason why the government should subsidize some folks to live here and not others.
    How does the government "subsidize" rent stabilized tenants?
    For the most part buildings under Rent Stabilization are privately owned, not government owned.
    Rent Stabilized tenants in privately held buildings receive no subsidy.

    def.:
    subsidized, subsidised
    having partial financial support from public funds

    subsidy

    : a grant or gift of money
    : a grant by a government to a private person or company to assist an enterprise deemed advantageous to the public

  2. #17

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    ^Landlords with rent stablized/controlled apartments are given tax breaks for those units in most cases. The government is, in effect, giving them back money for this purpose.

    In any case, whether you consider that government subsidized or not I still find it completely unfair that some people get a break on their rent and some don't for no discernable reason. This is my main point.

  3. #18
    Crabby airline hostess - stache's Avatar
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    The reason some people get a break is that they took the time to figure out the laws and made the effort to find an apt. that fits into those guidelines. The ones that don't get a break are the ones that rent somebody's condo etc. and don't pay attention.
    Last edited by stache; December 6th, 2005 at 07:09 PM.

  4. #19
    Disgruntled Optimist lofter1's Avatar
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    Quote Originally Posted by JMGarcia
    ^Landlords with rent stablized/controlled apartments are given tax breaks for those units in most cases. The government is, in effect, giving them back money for this purpose.
    Re: "tax breaks":
    You might be referring to specific "J-51" type buildings, under which rules the tax break to the owner is for a set number of years, as is the Rent Stabilized status for tenants. When that period ends the building is "de-regulated" and rents go to "market" levels.

    Most Rent Stabilized buildings involve no subsidy / tax breaks whatsoever.

  5. #20
    Chief Antagonist Ninjahedge's Avatar
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    Quote Originally Posted by stache
    The reason some people get a break is that they took the time to figure out the laws and made the effort to find an apt. that fits into those guidelines. The ones that don't get a break are the ones that rent somedoby's condo etc. and don't pay attention.
    Um, what?

    Sorry, no. It is the ones on the "in" crowd that get information from a realtor that an old lady is going to croak and her WWII 1200SF park avenue place is only at $300 a month.

    You can look all you want, but most of the controled places never make it past the realty agencies they list in.


    I still think that more investigation should be placed behind motivating the people who do not need it to be forced to move.

    I am not looking for more housing projects, but more of a middle class occupation.

    Why is it only the rich and the dirt poor that can live 20 min from their job in NYC?

  6. #21

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    Quote Originally Posted by stache
    The reason some people get a break is that they took the time to figure out the laws and made the effort to find an apt. that fits into those guidelines. The ones that don't get a break are the ones that rent somedoby's condo etc. and don't pay attention.
    There is simply no way I could find such an apartment. I do not have the contacts. I have 3 friends that live in rent controlled apartments. 2 got them by paying bribes. The other "inherited" it from her mother. 1 of the ones who bribed his way has sub-let it at a profit for years now.

  7. #22

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    Quote Originally Posted by lofter1
    Re: "tax breaks":
    You might be referring to specific "J-51" type buildings, under which rules the tax break to the owner is for a set number of years, as is the Rent Stabilized status for tenants. When that period ends the building is "de-regulated" and rents go to "market" levels.

    Most Rent Stabilized buildings involve no subsidy / tax breaks whatsoever.
    Landlords of rent controlled buildings get a corporate/income tax break/deduction, not a property tax break.

  8. #23
    Disgruntled Optimist lofter1's Avatar
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    Only the rich and the dirt poor?

    My RS building contains people who earn mostly between $40K - $60K / year. Rents average ~ $1,200 / month.

    Solid middle class, tax-paying, working people. Nurses, teachers, musicians, writers, etc.

    Don't fit into many of the pre-conceptions regarding RS tenants that have been cited previously on this thread.

  9. #24
    Disgruntled Optimist lofter1's Avatar
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    Quote Originally Posted by JMGarcia
    Landlords of rent controlled buildings get a corporate/income tax break/deduction, not a property tax break.
    Aha -- perhaps that is the crux as to why so many owners of RS buildings own more than one RS building: Rather than being bad for their business interests they can show a "loss" and use that to balance out their gains in other areas.

    Who is playing the system now?

  10. #25
    Disgruntled Optimist lofter1's Avatar
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    Quote Originally Posted by JMGarcia
    1 of the ones who bribed his way has sub-let it at a profit for years now.
    Which is illegal -- and leaves your friend liable for treble-damages on any amount that he charged the sub-tenant over the regulated rent. Also grounds for eviction.

    In the past couple of years more and more owners have started keeping tabs on situations like these (knowing they can use the info to oust law-breakers).

    So hopefully your friend has put away some of those ill-gotten gains to hire a good lawyer.

  11. #26

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    Average salary on Manhattan is $100K. If this building is in Manhattan then, yeah, at half average salary levels, people in your building are poor. Maybe not dirt poor, but poor.

    It's all relative.

    Quote Originally Posted by lofter1
    Only the rich and the dirt poor?

    My RS building contains people who earn mostly between $40K - $60K / year. Rents average ~ $1,200 / month.

    Solid middle class, tax-paying, working people. Nurses, teachers, musicians, writers, etc.

    Don't fit into many of the pre-conceptions regarding RS tenants that have been cited previously on this thread.

  12. #27
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    On another note, I went in to give my landlord my signed lease renewal on my market-rate apt. In trying to negotiate my $25/month rent increase, they told me that I was lucky because some tenants received $200/month increases.

    Just a little view at the heated rental market we are in.

  13. #28

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    Quote Originally Posted by lofter1
    Which is illegal -- and leaves your friend liable for treble-damages on any amount that he charged the sub-tenant over the regulated rent. Also grounds for eviction.

    In the past couple of years more and more owners have started keeping tabs on situations like these (knowing they can use the info to oust law-breakers).

    So hopefully your friend has put away some of those ill-gotten gains to hire a good lawyer.
    Absolutely it is illegal and I wouldn't be surprised if the landlord was also getting a cut. It is also completely uneforceable which is, IMO, another major flaw in the current system we have.

  14. #29
    Disgruntled Optimist lofter1's Avatar
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    Quote Originally Posted by JMGarcia
    Absolutely it is illegal and I wouldn't be surprised if the landlord was also getting a cut.
    Nope, wouldn't surprise me either.
    Quote Originally Posted by JMGarcia
    It is also completely uneforceable which is, IMO, another major flaw in the current system we have.
    The failure of government to enforce laws / regulations is what leaves the citizenry with little to no faith in those who lead us.

    This is not just true regarding rent laws as have been discussed here, but also true for any number of other areas:
    • Employment (witness the utter failure of official in charge, despite all the ranting and raving about undocumented illegal aliens, to police the corporations that hire illegal workers)
    • Building codes (understaffed inspector positions)
    • Environmental laws (budgets for enforcement slashed)
    • etc., etc., etc.

  15. #30
    Chief Antagonist Ninjahedge's Avatar
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    Quote Originally Posted by lofter1
    Only the rich and the dirt poor?

    My RS building contains people who earn mostly between $40K - $60K / year. Rents average ~ $1,200 / month.

    Solid middle class, tax-paying, working people. Nurses, teachers, musicians, writers, etc.

    Don't fit into many of the pre-conceptions regarding RS tenants that have been cited previously on this thread.
    Lofter, if you work downtown, try to find a place where two average people that want to have enough room to raise a kid (theres the kicker) can live within 20 minutes commute without forgoing their retirement savings plan.

    Most of the people here at work are living at least 45 min away in Queens, Brooklyn, and NJ. Why? They can't/don't want to live hand-to-mouth in the city because they are living in something bigger than 500SF....

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