If you can read this, either the style sheet didn't load or you have an older browser that doesn't support style sheets. Try clearing your browser cache and refreshing the page.

(New York Daily News)   NY landlords launch a media campaign to try to convince people that "the rent is too damn low." Good luck with that   (nydailynews.com) divider line 106
    More: Dumbass  
•       •       •

5183 clicks; posted to Main » on 11 Jun 2014 at 1:16 PM (27 weeks ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



106 Comments   (+0 »)
   
View Voting Results: Smartest and Funniest

First | « | 1 | 2 | 3 | » | Last | Show all
 
2014-06-11 11:10:49 AM  
Sounds reasonable. Think there's any chance they're also in the business of selling bridges?
 
2014-06-11 12:17:50 PM  
I have mixed feelings as not raising my rent further could negatively impact my "God Bless Our Overpriced Hovel Of A Shiateslum" wood-burned plaque business.
 
2014-06-11 01:22:04 PM  

brap: I have mixed feelings as not raising my rent further could negatively impact my "God Bless Our Overpriced Hovel Of A Shiateslum" wood-burned plaque business.


I need to place a bulk order.
 
2014-06-11 01:23:04 PM  

brap: I have mixed feelings as not raising my rent further could negatively impact my "God Bless Our Overpriced Hovel Of A Shiateslum" wood-burned plaque business.


Rent control, as it stands now though, is outdated, and is directly responsible for both inflated rents in people who aren't lucky enough to snag something rent controlled, and substandard conditions in rent controlled apartments. There is a balance to be had somewhere in the middle.
 
2014-06-11 01:24:54 PM  
So their insane or just stupid
 
2014-06-11 01:26:10 PM  
They need to eliminate rent control entirely and allow these units to be market rate, sure the people in rent control apartments will see a rise in rents, but the people who are not part of the lucky club, will see their rent go down.

It would be interesting to see what the free market can do

I bet the end result is better than "government control"
 
2014-06-11 01:28:37 PM  
has launched a six-figure ad campaign called, "A rent freeze hurts everyone."

Up next, the "food doesn't cost enough" campaign to be followed by the "don't you think you should be paying a bit more for gasoline?" campaign.


Yeah, good luck with that.
 
2014-06-11 01:29:05 PM  
Genuine question about the screwed up NYC real estate market.  If I own a building of rent controlled apartments worth say $500,000, and in a short time period of say less than 5 years, the neighborhood changes dramatically and the building is now worth $2 million, do my property taxes go up?
 
2014-06-11 01:33:54 PM  

steamingpile: So their insane or just stupid


*there

/peeve
 
2014-06-11 01:35:35 PM  

Tom_Slick: Genuine question about the screwed up NYC real estate market.  If I own a building of rent controlled apartments worth say $500,000, and in a short time period of say less than 5 years, the neighborhood changes dramatically and the building is now worth $2 million, do my property taxes go up?


Depends

If the city does a reassessment your assessment would go up, if yours went up more than neighboring properties, you will end up with higher property taxes as a result.
 
2014-06-11 01:36:19 PM  

steamingpile: So their insane or just stupid


* They's

/peeve
 
2014-06-11 01:36:37 PM  

Grapple: steamingpile: So their insane or just stupid

*there

/peeve


they're*

/not a peeve, just a jerk
 
2014-06-11 01:37:00 PM  

Delta1212: has launched a six-figure ad campaign called, "A rent freeze hurts everyone."

Up next, the "food doesn't cost enough" campaign to be followed by the "don't you think you should be paying a bit more for gasoline?" campaign.


Yeah, good luck with that.


Does the government set the price on menu items or grocery stores? That the store must sell these items for X-amount even if the store owner is losing money?

Didn't think so
 
2014-06-11 01:38:46 PM  
How this usually plays out:

Owners: We need to raise rents to cover costs, about 5% (truth, likely about 3%)
Rent-stabbers: OMG, unfair! we want 0%!
Board: Ok, 2% increase.

That may be OK in a year looked at in isolation, but it happens this way almost every year. After many years of owners being an additional 1% short, it eventually puts them under water. They can't even sell that that point, because nobody wants to buy a property where the income is set at a fixed number below operating costs.

To make ends meet, maintenance gets deferred. It starts small, like hallways don't get repainted, or light bulbs aren't changed very fast. Eventually, elevators arent working anymore and the boiler only sometimes works.

It amazes me how much power that people were able to grab over property they have no ownership stake in, but then again, this is a democratic city and they just elected a Communist to be mayor.
 
2014-06-11 01:38:50 PM  

dantheman195: Delta1212: has launched a six-figure ad campaign called, "A rent freeze hurts everyone."

Up next, the "food doesn't cost enough" campaign to be followed by the "don't you think you should be paying a bit more for gasoline?" campaign.


Yeah, good luck with that.

Does the government set the price on menu items or grocery stores? That the store must sell these items for X-amount even if the store owner is losing money?

Didn't think so


Yes, look at states that have price controls on Milk. Milk usually costs much more in those states.
 
2014-06-11 01:41:15 PM  

dantheman195: Tom_Slick: Genuine question about the screwed up NYC real estate market.  If I own a building of rent controlled apartments worth say $500,000, and in a short time period of say less than 5 years, the neighborhood changes dramatically and the building is now worth $2 million, do my property taxes go up?

Depends

If the city does a reassessment your assessment would go up, if yours went up more than neighboring properties, you will end up with higher property taxes as a result.


So basically, any incentive the owner of the property has to improve the property even when making a healthy profit is gone because a re-assessment could put him in the red financially.
 
2014-06-11 01:42:54 PM  

dantheman195: They need to eliminate rent control entirely and allow these units to be market rate, sure the people in rent control apartments will see a rise in rents, but the people who are not part of the lucky club, will see their rent go down.

It would be interesting to see what the free market can do

I bet the end result is better than "government control"


and why exactly do you think landlords will drop rent rates on other apartments? the goodness of their hearts?
 
2014-06-11 01:43:23 PM  
If the rents are too low, how could they afford the ad blitz?
 
2014-06-11 01:44:31 PM  
LineNoise: Rent contol is outdated, and is directly responsible for both inflated rents in people who aren't lucky enough to snag something rent controlled, and substandard conditions in rent controlled apartments. There is a balance to be had somewhere in the middle.

Rent CONTROLed apartments have all but dissapeared.  THere are only about 25,000 that still exist in all of NYC's boroughs.

Rent STABILIZED apartments are the only way I have been able to afford living in the city.  And frankly with 4 to 8 percent annual or bi-annual bumps in rent, it has gotten to the point where it makes more sense for me to buy.  Young people probably don't have that luxury.

My neighborhood has been rezoned and what was a relatively modest three to four story predominately brownstone neighborhood has become a canyon of towers, with rents and sales costs doubling what they replaced.  Everything is dubbed luxury (generally it means a small new space with burnished stainless steel kitchen appliances) and very little affordable housing is being built.  The Atlantic Yard project is kind of what's farked about the latest spate of development in a nutshell.  The whole housing aspect of the new stadium was shiatecanned.

It's a joke.  New York is becoming a sanitized playground for the upperclass.
 
2014-06-11 01:45:13 PM  
I'd have to ask, from people who live in NYC, just how much rent is there.
 
2014-06-11 01:46:05 PM  

LineNoise: brap: I have mixed feelings as not raising my rent further could negatively impact my "God Bless Our Overpriced Hovel Of A Shiateslum" wood-burned plaque business.

Rent control, as it stands now though, is outdated, and is directly responsible for both inflated rents in people who aren't lucky enough to snag something rent controlled, and substandard conditions in rent controlled apartments. There is a balance to be had somewhere in the middle.


I'm not one of those gut reaction "the FREE MARKET!!!" guys but in this case yeah. I don't get why the government is involved at all. If I'm willing to pay your landlord 20% more, isn't that screwing me out of a place to live?
 
2014-06-11 01:47:21 PM  

LemSkroob: How this usually plays out:

Owners: We need to raise rents to cover costs, about 5% (truth, likely about 3%)
Rent-stabbers: OMG, unfair! we want 0%!
Board: Ok, 2% increase.


That may be OK in a year looked at in isolation, but it happens this way almost every year. After many years of owners being an additional 1% short, it eventually puts them under water. They can't even sell that that point, because nobody wants to buy a property where the income is set at a fixed number below operating costs.

To make ends meet, maintenance gets deferred. It starts small, like hallways don't get repainted, or light bulbs aren't changed very fast. Eventually, elevators arent working anymore and the boiler only sometimes works.

It amazes me how much power that people were able to grab over property they have no ownership stake in, but then again, this is a democratic city and they just elected a Communist to be mayor.


Those increases are never lower than 6%.
 
2014-06-11 01:50:53 PM  

tlchwi02: and why exactly do you think landlords will drop rent rates on other apartments? the goodness of their hearts?


Same as rents go up and down anywhere else.  Someone will lower their prices, and the places that cost too much will either go empty or have the rents reduced.

Either that or someone will build/rehab additional housing and the supply will go up.  At one point there were empty buildings in NYC because the rent control rents were less than the cost of the property taxes on the building.
 
2014-06-11 01:51:55 PM  
So the claim is they'll have to send less on upkeep. But it's impossible to spend less than zero.

Does not compute! Does not compute! Does not compute! Does not compute! Does not compute! Does not compute!
 
2014-06-11 01:52:01 PM  

dantheman195: but the people who are not part of the lucky club, will see their rent go down.


img.fark.net
 
2014-06-11 01:52:51 PM  

brap: LineNoise: Rent contol is outdated, and is directly responsible for both inflated rents in people who aren't lucky enough to snag something rent controlled, and substandard conditions in rent controlled apartments. There is a balance to be had somewhere in the middle.

Rent CONTROLed apartments have all but dissapeared.  THere are only about 25,000 that still exist in all of NYC's boroughs.

Rent STABILIZED apartments are the only way I have been able to afford living in the city.  And frankly with 4 to 8 percent annual or bi-annual bumps in rent, it has gotten to the point where it makes more sense for me to buy.  Young people probably don't have that luxury.

My neighborhood has been rezoned and what was a relatively modest three to four story predominately brownstone neighborhood has become a canyon of towers, with rents and sales costs doubling what they replaced.  Everything is dubbed luxury (generally it means a small new space with burnished stainless steel kitchen appliances) and very little affordable housing is being built.  The Atlantic Yard project is kind of what's farked about the latest spate of development in a nutshell.  The whole housing aspect of the new stadium was shiatecanned.

It's a joke.  New York is becoming a sanitized playground for the upperclass.


By sanitized you mean with sanitized rat infestations and measles outbreaks type sanitized?
 
2014-06-11 01:53:17 PM  
What's their take on the necessity of breakfast lunch and dinner?
 
2014-06-11 01:53:38 PM  

TheGreatGazoo: Same as rents go up and down anywhere else. Someone will lower their prices, and the places that cost too much will either go empty or have the rents reduced.


i take it you haven't had any dealings with the rental markets in any major city in about the past 15-20 years? rents don't go down anymore. the supply of property is finite and the demand for living space constantly goes up.
 
2014-06-11 01:53:43 PM  

brap: LineNoise: Rent contol is outdated, and is directly responsible for both inflated rents in people who aren't lucky enough to snag something rent controlled, and substandard conditions in rent controlled apartments. There is a balance to be had somewhere in the middle.

Rent CONTROLed apartments have all but dissapeared.  THere are only about 25,000 that still exist in all of NYC's boroughs.

Rent STABILIZED apartments are the only way I have been able to afford living in the city.  And frankly with 4 to 8 percent annual or bi-annual bumps in rent, it has gotten to the point where it makes more sense for me to buy.  Young people probably don't have that luxury.

My neighborhood has been rezoned and what was a relatively modest three to four story predominately brownstone neighborhood has become a canyon of towers, with rents and sales costs doubling what they replaced.  Everything is dubbed luxury (generally it means a small new space with burnished stainless steel kitchen appliances) and very little affordable housing is being built.  The Atlantic Yard project is kind of what's farked about the latest spate of development in a nutshell.  The whole housing aspect of the new stadium was shiatecanned.

It's a joke.  New York is becoming a sanitized playground for the upperclass.


I mean, how many rich people are there?  Really?  Seems like there is an insane bubble and its popping.
 
2014-06-11 01:54:16 PM  
LineNoise:

Rent control, as it stands now though, is outdated, and is directly responsible for both inflated rents in people who aren't lucky enough to snag something rent controlled, and substandard conditions in rent controlled apartments. There is a balance to be had somewhere in the middle.

i have a rent controlled apartment, and it's in quite sound condition, as are the great majority of them.
nobody can "snag" a rent controlled apartment. they are few, and the decontrol conditions are broad, so getting fewer all the time.
btw, do you know how the rents are controlled on these apartments?
the antique line about causing-everyone-else's-high-rents is a canard.
and the last line above is a rhetorician's dream.

so - part of the effort in the OP, are you?
 
2014-06-11 01:54:56 PM  
Yeah, so rent-controlled apartments will cost more and generate more money for the landlords. I'm SURE that they will turn right around and lower the rent on other apartments. In no way do I believe that they will just pocket the extra money and keep charging the same rent elsewhere.
 
2014-06-11 01:56:25 PM  
City slicker problems
 
2014-06-11 01:57:10 PM  

Delta1212: has launched a six-figure ad campaign called, "A rent freeze hurts everyone."

Up next, the "food doesn't cost enough" campaign to be followed by the "don't you think you should be paying a bit more for gasoline?" campaign.


Yeah, good luck with that.


sometimes that's the case. Would you rather the farmer raise prices or just stop farming low profit foodstuff? I don't see virtue in the govt making the prices affordable but the product rare.
 
2014-06-11 01:57:38 PM  

thisdaydreamer: Sounds reasonable. Think there's any chance they're also in the business of selling bridges?


I'LL TAKE 8!
 
2014-06-11 01:58:15 PM  

nocturnal001: I'm not one of those gut reaction "the FREE MARKET!!!" guys but in this case yeah. I don't get why the government is involved at all. If I'm willing to pay your landlord 20% more, isn't that screwing me out of a place to live?


Even with rent stabilization rents have consistently outpaced inflation in NYC.  The market is far from free here.  And yes, I am a firm believer in having mixed-income communities.  It tends to help ease the lines between the haves and have nots rather than turn the city into an island of wealthy people surrounded by slums.  It's part of what I loved about New York.  That said, I am confident that your outlook and developers profits will eventually win out over my hippie-dippy Utopian outlook on what an urban community should look like.
 
2014-06-11 01:58:50 PM  

brap: LineNoise: Rent contol is outdated, and is directly responsible for both inflated rents in people who aren't lucky enough to snag something rent controlled, and substandard conditions in rent controlled apartments. There is a balance to be had somewhere in the middle.

Rent CONTROLed apartments have all but dissapeared.  THere are only about 25,000 that still exist in all of NYC's boroughs.

Rent STABILIZED apartments are the only way I have been able to afford living in the city.  And frankly with 4 to 8 percent annual or bi-annual bumps in rent, it has gotten to the point where it makes more sense for me to buy.  Young people probably don't have that luxury.

My neighborhood has been rezoned and what was a relatively modest three to four story predominately brownstone neighborhood has become a canyon of towers, with rents and sales costs doubling what they replaced.  Everything is dubbed luxury (generally it means a small new space with burnished stainless steel kitchen appliances) and very little affordable housing is being built.  The Atlantic Yard project is kind of what's farked about the latest spate of development in a nutshell.  The whole housing aspect of the new stadium was shiatecanned.

It's a joke.  New York is becoming a sanitized playground for the upperclass.


Was about to point out that the economist real estate wizards who don't even know the difference between Rent Control and Rent Stabilization are, in all likelihood, spewing ignorant dogmatic blather they found on some dumbass 'Free Market Fix Everything Derp' blog.
 
2014-06-11 01:59:02 PM  

kling_klang_bed: I'd have to ask, from people who live in NYC, just how much rent is there.


In Manhattan, a one-bedroom walkup averages our around $2,300. In a place as far north as Hamilton Heights it will be less, and in a hot neighborhood like the west village it will be more. A building with a doorman is probably closer to $2,700. Size is about 550 to 650 square feet.
 
2014-06-11 02:00:52 PM  

LineNoise: brap: I have mixed feelings as not raising my rent further could negatively impact my "God Bless Our Overpriced Hovel Of A Shiateslum" wood-burned plaque business.

Rent control, as it stands now though, is outdated, and is directly responsible for both inflated rents in people who aren't lucky enough to snag something rent controlled, and substandard conditions in rent controlled apartments. There is a balance to be had somewhere in the middle.


There are almost no 'rent controlled' apartments left in NYC, you are talking about 'rent stabilization' , which is something very different.
 
2014-06-11 02:00:53 PM  

mentula: i have a rent controlled apartment, and it's in quite sound condition


I know this is probably a little rushed and given the fact you don't know me, may come as a shock but....

*gets down on one knee*

Will you marry me?
 
2014-06-11 02:02:36 PM  
FTFA:

"Small-building owners put their rent increases right back into their buildings for repairs and maintenance," the narrator says.

That's rich.

My small apt building (30 units) did an unnecessary remodel of the first floor common area to try and boost rental prices. Meanwhile, on two occasions in the last year the building owner has been so slow to pay the building's electric bill that ConEd has sent notices to everyone in the building saying because of this, if the bill isn't paid within 15 days, power will be shutoff to the common areas in the building. And then the elevator breaks all of the time.
 
2014-06-11 02:03:09 PM  

thornhill: kling_klang_bed: I'd have to ask, from people who live in NYC, just how much rent is there.

In Manhattan, a one-bedroom walkup averages our around $2,300. In a place as far north as Hamilton Heights it will be less, and in a hot neighborhood like the west village it will be more. A building with a doorman is probably closer to $2,700. Size is about 550 to 650 square feet.


YIKES! I thought rent in Chicago was high!
 
2014-06-11 02:05:03 PM  
The owner-occupiers are probably telling the truth when they say rents are too low.  Laws and regulations governing rental properties in NYC favor the big landlords over the little guy who owns one building.
 
2014-06-11 02:06:22 PM  

brap: nocturnal001: I'm not one of those gut reaction "the FREE MARKET!!!" guys but in this case yeah. I don't get why the government is involved at all. If I'm willing to pay your landlord 20% more, isn't that screwing me out of a place to live?

Even with rent stabilization rents have consistently outpaced inflation in NYC.  The market is far from free here.  And yes, I am a firm believer in having mixed-income communities.  It tends to help ease the lines between the haves and have nots rather than turn the city into an island of wealthy people surrounded by slums.  It's part of what I loved about New York.  That said, I am confident that your outlook and developers profits will eventually win out over my hippie-dippy Utopian outlook on what an urban community should look like.


Does rent control increase mixed communities? I have no direct exposure to it. If it does then at least there is some value there.
 
2014-06-11 02:07:13 PM  

hasty ambush: brap: LineNoise: Rent contol is outdated, and is directly responsible for both inflated rents in people who aren't lucky enough to snag something rent controlled, and substandard conditions in rent controlled apartments. There is a balance to be had somewhere in the middle.

Rent CONTROLed apartments have all but dissapeared.  THere are only about 25,000 that still exist in all of NYC's boroughs.

Rent STABILIZED apartments are the only way I have been able to afford living in the city.  And frankly with 4 to 8 percent annual or bi-annual bumps in rent, it has gotten to the point where it makes more sense for me to buy.  Young people probably don't have that luxury.

My neighborhood has been rezoned and what was a relatively modest three to four story predominately brownstone neighborhood has become a canyon of towers, with rents and sales costs doubling what they replaced.  Everything is dubbed luxury (generally it means a small new space with burnished stainless steel kitchen appliances) and very little affordable housing is being built.  The Atlantic Yard project is kind of what's farked about the latest spate of development in a nutshell.  The whole housing aspect of the new stadium was shiatecanned.

It's a joke.  New York is becoming a sanitized playground for the upperclass.

By sanitized you mean with sanitized rat infestations and measles outbreaks type sanitized?


No, as in turning the city into a series of uber wealthy coveted enclaves that'll be virtual gated communities. And then outlying pockets of complete and utter squalor for the poors. You'd know this if you had the first clue as to the dynamics of NYC real estate realities.

I'm sure that sounds like paradise to you though.
 
2014-06-11 02:09:28 PM  

Serious Post on Serious Thread: No, as in turning the city into a series of uber wealthy coveted enclaves that'll be virtual gated communities. And then outlying pockets of complete and utter squalor for the poors. You'd know this if you had the first clue as to the dynamics of NYC real estate realities.

I'm sure that sounds like paradise to you though.


The Bronx never gets any love.
 
2014-06-11 02:11:19 PM  

thornhill: kling_klang_bed: I'd have to ask, from people who live in NYC, just how much rent is there.

In Manhattan, a one-bedroom walkup averages our around $2,300. In a place as far north as Hamilton Heights it will be less, and in a hot neighborhood like the west village it will be more. A building with a doorman is probably closer to $2,700. Size is about 550 to 650 square feet.


Where I live $2700 won't rent you a damned thing because nothing is that expensive
 
2014-06-11 02:11:57 PM  

brap: nocturnal001: I'm not one of those gut reaction "the FREE MARKET!!!" guys but in this case yeah. I don't get why the government is involved at all. If I'm willing to pay your landlord 20% more, isn't that screwing me out of a place to live?

Even with rent stabilization rents have consistently outpaced inflation in NYC.  The market is far from free here.  And yes, I am a firm believer in having mixed-income communities.  It tends to help ease the lines between the haves and have nots rather than turn the city into an island of wealthy people surrounded by slums.  It's part of what I loved about New York.  That said, I am confident that your outlook and developers profits will eventually win out over my hippie-dippy Utopian outlook on what an urban community should look like.


I'd argue that the city's economic health would be even better than it is if rent wasn't such a disproportionate expense for most New Yorkers.
 
2014-06-11 02:13:34 PM  
"Small-building owners put their rent increases right back into their buildings for repairs and maintenance," the narrator says.

Or, yanno, into ad campaigns. Same thing.
 
2014-06-11 02:14:32 PM  

Smeggy Smurf: thornhill: kling_klang_bed: I'd have to ask, from people who live in NYC, just how much rent is there.

In Manhattan, a one-bedroom walkup averages our around $2,300. In a place as far north as Hamilton Heights it will be less, and in a hot neighborhood like the west village it will be more. A building with a doorman is probably closer to $2,700. Size is about 550 to 650 square feet.

Where I live $2700 won't rent you a damned thing because nothing is that expensive


http://boise.craigslist.org/search/apa?sale_date=-&minAsk=2700
 
2014-06-11 02:16:47 PM  

moothemagiccow: Smeggy Smurf: thornhill: kling_klang_bed: I'd have to ask, from people who live in NYC, just how much rent is there.

In Manhattan, a one-bedroom walkup averages our around $2,300. In a place as far north as Hamilton Heights it will be less, and in a hot neighborhood like the west village it will be more. A building with a doorman is probably closer to $2,700. Size is about 550 to 650 square feet.

Where I live $2700 won't rent you a damned thing because nothing is that expensive

http://boise.craigslist.org/search/apa?sale_date=-&minAsk=2700


Sweet a 6500 square foot house with room for horses $3500 a month.  That seems like a bargain.
 
Displayed 50 of 106 comments

First | « | 1 | 2 | 3 | » | Last | Show all

View Voting Results: Smartest and Funniest


This thread is closed to new comments.

Continue Farking
Submit a Link »
On Twitter





In Other Media


  1. Links are submitted by members of the Fark community.

  2. When community members submit a link, they also write a custom headline for the story.

  3. Other Farkers comment on the links. This is the number of comments. Click here to read them.

  4. Click here to submit a link.

Report