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Posted by Mark Smith on September 30, 2000 at 00:05:00:

In Reply to: Senior gets 80% rent exemption??????? posted by John Tenant on September 29, 2000 at 13:44:29:

The Senior Citizen Rent Increase Exempton (SCRIE) applies to rent controlled, rent stabilized, and Mitchell-Lama apartments occupied by senior citizens who qualify under the law.

With 7 1/2% compounded annual increases in the Maximum Collectible Rent (MCR) for rent controlled apartments, it's entirely possible to have an 80% exemption for someone who has lived in an apartment for many years. The landlord still gets the full rent -- some of it from the tenant, and the rest from the city, in the form of a real estate tax credit.

DHCR Fact Sheet #21 - SCRIE (from TenantNet)

http://tenant.net/DHCR_info/factnew/orafac21.txt

or click on the link at the end of this message

The picture of the WWF's Stephanie McMahon has nothing to do with this message, but I think she's hot -- and she is the boss's daughter.

:
: I recently saw my neighbor's rent bill and was shocked to see how little rent they are paying.

: Their $850 bill showed a "Senior Citizen Exemption" and a $45 charge for "fuel," bringing the total to $158!

: What law in Manhattan would give a Senior an 80% rent reduction? The only law I can find reference to is the Senior Citizen Rent *Increase* Exemption.

: We in the building are outraged that a senior pays almost nothing for a 3 bedroom apartment, while other folks are paying $2000 for a studio.
: What is going on here?

• DHCR Fact Sheet #21 - SCRIE (from TenantNet)

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Comments:
: The Senior Citizen Rent Increase Exempton (SCRIE) applies to rent controlled, rent stabilized, and Mitchell-Lama apartments occupied by senior citizens who qualify under the law.

: With 7 1/2% compounded annual increases in the Maximum Collectible Rent (MCR) for rent controlled apartments, it's entirely possible to have an 80% exemption for someone who has lived in an apartment for many years.  The landlord still gets the full rent -- some of it from the tenant, and the rest from the city, in the form of a real estate tax credit.

: DHCR Fact Sheet #21 - SCRIE (from TenantNet)

: http://tenant.net/DHCR_info/factnew/orafac21.txt

: or click on the link at the end of this message

: The picture of the WWF's Stephanie McMahon has nothing to do with this message, but I think she's hot -- and she is the boss's daughter.

: :
: : I recently saw my neighbor's rent bill and was shocked to see how little rent they are paying.

: : Their $850 bill showed a "Senior Citizen Exemption" and a $45 charge for "fuel," bringing the total to $158!

: : What law in Manhattan would give a Senior an 80% rent reduction?  The only law I can find reference to is the Senior Citizen Rent *Increase* Exemption.

: : We in the building are outraged that a senior pays almost nothing for a 3 bedroom apartment, while other folks are paying $2000 for a studio.
: : What is going on here?


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