It's all relative

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It's all relative

Posted by MikeW on June 06, 2000 at 15:50:01:
In Reply to: An honest question about Rent Stabilization posted by NYC Tenant on June 06, 2000 at 14:47:18:
If you left the apartment, and he could rent it at market, what would it go for? I don't know what area you're in, but in a decent part of Brooklyn (Heights, Slope, etc), I'm sure it would go for $1500. So think more in terms of the fact your getting a $600 subsidy, and leave it at that.
Actually, there is no coordination between the rents of similar apartments. The rent is basically a factor of what was initially charged, how many time it's turned over, and what annual increases were allowed. You would be very damned lucky if you could find another regulated one bedroom apartment in a decent area for $900. If you left your apartment, the LL would get the 20% vacancy allowance, plus he could put as much money into it as he wanted, take an MCI for 2.5% of the amount put into the apartment, and add that to the rent also. If he can get someone to pay $2K a month or more, he can get it out of stabilization. This is standard operation procedure in Manhattan.
So in case you haven't figured this out, stay where you are and consider yourself lucky. You're not going to be able to do any better.
: I'm not a troll. I really have mixed emotions about Rent Stabilization and was looking for some insight.
: Annual household income here is about $35,000. Husband and wife live in a small apartment in Brooklyn, stabilized and pay nearly $850. You might think that is a bargain, but I don't. The floors are terribly squeaky, it's on the first floor so noise and car exhaust is a pain, the floors are bad enough that I can hear the people downstairs when they're having a discussion. The way the place is lined up, underneath me is the super and their kitchen is under my bedroom. If they decide to sit and chat at midnight, I can hear every word. The floors are not going to break and land me downstairs, so the landlord won't do anything about it.
: With an increase of 6 percent on a two year lease, that will put me at about $900 a month. Now, the $900 is NOT because the value of the apartment has gone up (on the contrary, everything in it is a year older) but simply because it exists. There is no differentiation in quality of apartments that are renting at market rates because they all go up together the same amount. So everyone in this area whether they are living in a flea box, fair, good, or great apartment and paying $850 are ALL going to be increased the same rate. Something is not right with that, at least to me. One doesn't have the choice to move to a more affordable flea box because it is renting for the same price.
: On the other hand, I can't see myself agreeing with those who say stabilization should be eliminated. I think there would be mass chaos if that ever happened and lots of people and families would be displaced, not to mention a scenario in which a person rents for a reasonable price, pays all the costs involved in a move only to be at the landlord's mercy a year later when they tack on $200 bucks to the rent because they know you'll pay it rather than be in upheaval by having to move all over again and incur the costs involved.
: I don't know what to think. All I know is it scares me to think that my rent is going to to up so high.

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: If you left the apartment, and he could rent it at market, what would it go for?  I don't know what area you're in, but in a decent part of Brooklyn (Heights, Slope, etc), I'm sure it would go for $1500.  So think more in terms of the fact your getting a $600 subsidy, and leave it at that.

: Actually, there is no coordination between the rents of similar apartments.  The rent is basically a factor of what was initially charged, how many time it's turned over, and what annual increases were allowed.  You would be very damned lucky if you could find another regulated one bedroom apartment in a decent area for $900.  If you left your apartment, the LL would get the 20% vacancy allowance, plus he could put as much money into it as he wanted, take an MCI for 2.5% of the amount put into the apartment, and add that to the rent also.  If he can get someone to pay $2K a month or more, he can get it out of stabilization.  This is standard operation procedure in Manhattan.

: So in case you haven't figured this out, stay where you are and consider yourself lucky.  You're not going to be able to do any better.

: : I'm not a troll.  I really have mixed emotions about Rent Stabilization and was looking for some insight.

: : Annual household income here is about $35,000.  Husband and wife live in a small apartment in Brooklyn, stabilized and pay nearly $850. You might think that is a bargain, but I don't.  The floors are terribly squeaky, it's on the first floor so noise and car exhaust is a pain, the floors are bad enough that I can hear the people downstairs when they're having a discussion.  The way the place is lined up, underneath me is the super and their kitchen is under my bedroom.  If they decide to sit and chat at midnight, I can hear every word.  The floors are not going to break and land me downstairs, so the landlord won't do anything about it.

: : With an increase of 6 percent on a two year lease, that will put me at about $900 a month.  Now, the $900 is NOT because the value of the apartment has gone up (on the contrary, everything in it is a year older) but simply because it exists.  There is no differentiation in quality of apartments that are renting at market rates because they all go up together the same amount.  So everyone in this area whether they are living in a flea box, fair, good, or great apartment and paying $850 are ALL going to be increased the same rate.  Something is not right with that, at least to me.  One doesn't have the choice to move to a more affordable flea box because it is renting for the same price.

: : On the other hand, I can't see myself agreeing with those who say stabilization should be eliminated.  I think there would be mass chaos if that ever happened and lots of people and families would be displaced, not to mention a scenario in which a person rents for a reasonable price, pays all the costs involved in a move only to be at the landlord's mercy a year later when they tack on $200 bucks to the rent because they know you'll pay it rather than be in upheaval by having to move all over again and incur the costs involved.

: : I don't know what to think.  All I know is it scares me to think that my rent is going to to up so high.  


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