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New York, NY - Landlords, Tenants to Tangle over Rent-Stabilized Apartments |
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Last updated on: May 05, 2008 at 12:15 AM
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New York, NY - The lousy economy is taking a toll on almost everyone - but for the city's 1 million rent-stabilized tenants and the 25,000 landlords who rent to them, the only way for one side to find relief is for the other to hurt a little more.
On one side are landlords who say they need at least a 10% rent hike to cover out-of-control prices for heating oil as well as water and sewer bills, maintenance costs and the other costs of aging buildings in a pricey city.
But tenant advocates say that would be enough to boot the poorest renters out of their homes.
"There's no way I could afford that. I would have to leave," said Khadijah Rahman, 29, who lives with her three children in a one-bedroom apartment in the Mount Eden section of the Bronx and pays $863 a month.
Michael Schmelzer, who has managed rent-stabilized buildings in the Bronx for four decades, said he knows many of his tenants are facing a tough time as well - because more of them are falling behind on their rent.
"There's going to be a lot of signs and a lot of yelling and a lot of demonstrations."
U/D: 08:42. PM
The Rent Guidelines Board voted to increase One-year leases by between 3.5 to 7 percent. Two-year leases will be increased between 5.5 to 9.5 percent.
Final amounts for increases will be determined by a final vote, which will be held June 3 after a series of public meetings.
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Read Comments (7) — Post Yours »
1
May 05, 2008 at 03:18 PM Anonymous Says:
How is it that the city understands that they can raise the tax with 18%, and water and sewer with 11%, not to mention what heating costs, but they limit the amount landlords can charge which means that landlors run a welfare subsidy for tenants. now I understand that for some renters it costs too much as well, but keep in mind we are talking about renters that pay in most cases less then 700.00 for an apartment that the city itself would estimate it to be at fair market rent 1100 for 1 bedroom.
2
May 05, 2008 at 03:27 PM Anonymous Says:
i understand everyone is being hit with the dead economy some less and some more but let these ppl get jobs just like everyone i am not saying i would want my rent to go up but u know i work hard as many ppl do and still struggle but i am not paying 700-800 in rent per month its double that and the govt doesnt help me so please get a job and then u have a right to complain like the rest of us that have jobs
3
May 05, 2008 at 07:13 PM Anonymous Says:
i have tenants who pay $192 and the apartment right next door witch is the same size are paying $1500.
4
May 05, 2008 at 08:22 PM Anonymous Says:
Like the first guy said. LET THEM GO GET A JOB.
5
May 05, 2008 at 10:07 PM Anonymous Says:
Imagine a company manufacturing a product, say furniture, then the city tells you how much to sell it for regardless of what it costs to manufacture it, the same is for apartments, the city tells you how much you can charge for rent regardless of what the cost to run it is. I agree with the first post here, the city has the landlords run a welfare system at their own expense.
6
May 05, 2008 at 10:52 PM Anonymous Says:
That is the deal in here. NY is a submarket with some very strange rules. But remember with market rents come vaccancy, turnover and nonpayment.good luck y all.
7
May 06, 2008 at 12:34 PM Anonymous Says:
I have a tenant who earns 2.5 million a year - pays 575 per month for an apt with market value of 2600 per month. Does he deserve to be regulated - Next door tenant earns 80k and subsidizes him by paying 2600 with no regulation.