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 28
    More: Dumbass  
•       •       •

5156 clicks; posted to Main » on 11 Jun 2014 at 1:16 PM (15 weeks ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



Voting Results (Smartest)
View Voting Results: Smartest and Funniest

2014-06-11 01:44:31 PM
5 votes:
LineNoise: Rent contol is outdated, and is directly responsible for both inflated rents in people who aren't lucky enough to snag something rent controlled, and substandard conditions in rent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 01:23:04 PM
4 votes:

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Rent control, as it stands now though, is outdated, and is directly responsible for both inflated rents in people who aren't lucky enough to snag something rent controlled, and substandard conditions in rent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 01:38:46 PM
3 votes:
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 01:52:01 PM
2 votes:

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


img.fark.net
2014-06-11 01:47:21 PM
2 votes:

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 01:43:23 PM
2 votes:
If the rents are too low, how could they afford the ad blitz?
2014-06-11 01:28:37 PM
2 votes:
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 07:13:26 PM
1 votes:

serpent_sky: And every landlord finds a way to not return security deposits.


Geez, isn't that the truth?  When I moved out of my apartment in 2004 after having been there for seven years, the management company sent a letter saying that not only were they keeping the entire security deposit, they were asking for additional money to cover the damage because "they had to replace part of the kitchen countertop that was damaged".  I called them back and asked them if they were sure that was the case, and they responded yes, they had already replaced the counter and could show me the bill for the work.

Unfortunately, they didn't know that I knew the tenant that had moved into my old apartment (she had lived across the breezeway from me), so I went down there and she let me in to photograph the place.  Of course, nothing at all had been done to the kitchen, and they hadn't even bothered to replace the carpet or paint the walls.  I then went to the rental office to speak to the property manager, showed her the photos and a copy of the letter she'd sent, and explained that legal action would be forthcoming as well as a call to the police department and local newspaper.  I got a package from FedEx the next day with a check for the full amount of my security deposit.

Most landlords aren't quite that bad, but I would suggest that there always be a full walkthrough with the property manager, with full video, before returning the keys to any rental property.
2014-06-11 05:38:10 PM
1 votes:
I have this vision of everyone whose housing costs are >50% of their earnings just moves out overnight from NYC and all the rich people wake up in the morning and starve over the next few weeks because the people that wipe their ass are all gone.

The thing about "oh well then just move" is at some point there's no where else to move to.
2014-06-11 03:20:09 PM
1 votes:

thornhill: 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

They must have had one hell of a housing bubble.


It was insane at the end.  In the shiatty city of Nampa which is about 15 miles west of the Boise city limit bare dirt lots of 40' x 120' were going for as much as $114K.  For the dirt.  That was the cheap area to live in.  The house I designed for that lot wasn't a good house but it's what the developer wanted.  The bubble burst before he finished construction and the house sat empty for years.  It was the last project I did before I shut down and took a job doing grocery stores.
2014-06-11 03:14:08 PM
1 votes:

MyRandomName: Rent control was a means for the government to force policy on citizens without being responsible for the costs of the program. It is bullshiat.


It was actually implemented post-WWII nationwide to address housing shortages and price gouging that veterans and their families faced upon returning from war but thanks for playing another great game of Fictional Revisionist on The Interwebby.

I do thank you for at least not dragging Milt Friendman into this, I fear I would vomit.
2014-06-11 03:05:49 PM
1 votes:

serpent_sky: kling_klang_bed: Oh, I left out the dreaded broker fee.

That would make it another $200?
Usually, they take a month's rent.
So you need 1st month, 1-2 months security, 1 month for the broker, and some places also want last month.

And every landlord finds a way to not return security deposits.


www.toothpastefordinner.com
2014-06-11 03:00:04 PM
1 votes:

nocturnal001: thornhill: 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.

Doesn't that just shift that expense to people who aren't able to find rent controlled housing?


In a nutshell, no. Unless you want to live in a new construction luxury high rise, or a very specific location, or the attic of a townhouse, there's likely a stabalized (WHICH IS NOT THE SAME AS CONTROLLED) unit. May have to compromise on some factors, like super hip neighborhood that's maxed out, but otherwise not really.

See: http://www.nycrgb.org/html/resources/zip.html

The point is stabalized are already barely BARELY affordable. Rip that rug out and you are left with run down far flung ghettos and sky high rent exclusively wealthy neighborhoods that monopolize any marginally desireable part of NYC
2014-06-11 02:57:57 PM
1 votes:

gamergirl23: Which ensures that the second anyone moves out the landlord will quickly do juuuuuust enough to justify a rent increase while doing no repairs in the other apartments that have long term tenants. Or maybe that's just our place.


Huh? What does one thing have to do with the other?

I don't know. I live in a building where some apartments are stabilized and some are market rate. The building is very well taken care of by the owners. They aren't throwing money at it but they certainly do not let it get rundown. But maybe the percentage of stabilized vs market rate apartments comes into play there.

NYC real estate is a universe unto itself.
2014-06-11 02:55:40 PM
1 votes:

nocturnal001: Doesn't that just shift that expense to people who aren't able to find rent controlled housing?


In the case of Rent Stabilized buildings, no it doesn't because the buildings were constructed post WWII have pre-mid 1970s and have a minimum number of rentable units (can't remember the exact number) so anyone owning or purchasing such a building will know almost exactly what the rent roll on such an apartment will be.

Also, loopholes have allowed owners to "Reno" such an apartment between tenants and convert it to "market rate" this usually just involves putting in some new bathroom tiles and some kitchen cabinets and/or slapping up a cheap wall to "add" a bedroom.  My building is a good case study.  Since they eased conversion standards the cheapo "renos" in my building that are no longer rent-stabilized demand around $1,000 more a month than my rent and their predecessor's previously regulated rents.  Overall the building is in pretty sad shape.  None of this increased rentroll money has been pumped into share amenities.
2014-06-11 02:32:24 PM
1 votes:

MichiganFTL: Grapple: steamingpile: So their insane or just stupid

*there

/peeve

they're*

/not a peeve, just a jerk


You'se a jerk.
2014-06-11 02:26:32 PM
1 votes:

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.


HHHHHHHHHHHHHHHHAAAAAAAAAAAAAHAHAHAHAHAHAHAHAAAHAHAHAHHHAAA
2014-06-11 01:58:15 PM
1 votes:

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 01:54:56 PM
1 votes:
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 01:54:16 PM
1 votes:
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 01:53:43 PM
1 votes:

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 01:53:38 PM
1 votes:

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 01:45:13 PM
1 votes:
I'd have to ask, from people who live in NYC, just how much rent is there.
2014-06-11 01:42:54 PM
1 votes:

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 01:38:50 PM
1 votes:

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 01:29:05 PM
1 votes:
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 01:26:10 PM
1 votes:
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 11:10:49 AM
1 votes:
Sounds reasonable. Think there's any chance they're also in the business of selling bridges?
 
Displayed 28 of 28 comments

View Voting Results: Smartest and Funniest


This thread is closed to new comments.

Continue Farking
Submit a Link »






Report