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Re: Rent Control has some significant inequities

Posted by To Sir Loving.... regards the Gen Xer on June 22, 1997 at 16:41:25:

In Reply to: Re: Rent Control has some significant inequities posted by Sir Loving on June 17, 1997 at 19:59:37:

: Not all buildings have mortgages that are paid.

: When we talk about buildings built before 1947, for which mortgages have not been paid the question becomes what has the owner done with 50 years of rent money? Gone to the Bahamas?

How about given up the property and sold it to someone else? Or do you think owners of buildings hold on to things forever? Do you hold on to your clothes, furniture and cars forever?

: When someone buys a building or an apartment, they buy it with all current leases intact. Yes, they should take everything into account before making such an important decision and not expect to bribe senators to change the laws in order to evict people that have chosen to make NY their life long home.

BRIBE SENATORS? Let's not go there because this is a bunch of ultra liberalist baloney!!!!!

You should read a book called, "In Defense of Elitism" Is a discussion about fairness in society? What is fair? Certainly not equality. We are NOT equal. We should not have equality. We should have equal opportunity. THat should be the premis of society and we should not reward mediocrity and we should not make being a slacker a virtue and a position of advantage.

: Maintanance and utilization of common areas, 0.00
: electricity in the halls $10.00 per month

In what place you living in? The electricity in my building is quite hefty, or do you think the elevator runs on good intentions?

In addition, the building must pay for the water, which is allocated by square footage around the perimeter. Since it happens to be on a corner, it must pay double footage.

: super once a week throws out the recycle trash $5.00

And mops the floors and cleans the mirrors in the lobby and cleans the trash around the entire building and cleans the laundry room and fixes things throughout the building and maintains the boiler and polishes the wood paneling in the elevator along with the brass handrails......

: roof repairs $800,00

That wouldn't even pay for the cost of labor.
My building could not withstand any more patchwork and needed an entire new roof. It cost $100,000!!!!!!!

: asbestos removal - none

Do you think buildings build before 1947 DON'T have asbestos? Anything requiring entering into a wall will require asbestos removal in accordance to the law. That ain't cheap either.
: new boilers - free if you switch to gas heat.

Who pays for the installation of gas heat? Who pays for the gas? Since when is gas free?

: her apt. on the open market would rent between $1,000 and $1,200 a month. - pure profit for the landlord.

Pure profit hardly. A 2 bedroom apartment with a living room 20x12 and a master bedroom of 18x 12 with cove moldings, archways, and wood floors in a neighborhood like Forest Hills? Like I said, the maintence, without any profit is $600 a month. That doesn't include the assessments that the shareholders (who own their apartments) must pay, for the new roof, asbestos removal, boiler, new windows and roof. The building still needs some repointing, recementing of the sidewalks, landscaping, and a replaced elevator.

: RC tenants pay $106 per month more than what it's worth.

That statement makes you sound like a 12 year old.

: Without that control, the banks will not lend money for repairs.
: Home Equity loans are tax deductible.

Like I said, the BANK WILL NOT LEND THE MONEY.... it isn't the state of one person's financials. It is the state of the combined financials of the building. The banks find it to be too risky since less than 50% of the building is sold and of the ones that are not, many are rent controlled. It is a liability and the bank said NO, NO, NO, NO!

: Landlords do not bother to repair R/C apartments till the tenant moves or dies.

The tenants in my building get very, good service, except when the tenant get's a little senile and refuses entrance buy maintenance people..... which seems to be very common among the elderly.

: No one wants to through out an old person. Yeah right, all landlords care about is their big bottom line.

Half of my building was elderly people when it went co-op. They were given the option to leave with a $50,000 check, or stay. Some stayed. They are still there, those who haven't died. NOONE has thrown any one out and a $50,000 check was a very generous offer.

: The landlord made a deal with the family.

No the law made a deal with the family.

Are you saying that parents in rent control apartments shouldn't have unprotected sex? That the childen who were in the apartment taking care of their parents should be thrown out on the street. Some of these kids were there before their landlord. Don't you think they deserve to live in thier homes without having to pay through the nose?:

Sure, they deserve to have the option to stay and have a lease. But they don't deserve the option to stay paying 1950's prices! Basically, what you are saying is that my parents should have to pay for the guy next door. What if I told you that my parents can barely afford what they are paying now? Why should they have to pick up the slack so someone can essentially live for free. I spent $100 in the last 4 days on miscellaneous expenses such as food.

: : Regarding the idea that someone who has lived somewhere could have bought the building 10 times over..... If you want to turn back the clock and change the law, then lets do it fairly and offer the building to the existing tenant at the price it was worth 50 years ago when the tenant's family first moved in.

If they had the money 50 years ago, they should have bought it fifty years ago. Why should they pay a price of 50 years ago when they are earning a salary of 1997?

: A person purchasing a building only risks his original 5% down payment, For a 10 unit $25,000 building built in 1947 that comes to about $1,250.
: 50 Year old tenants paying $200 monthly rents have contributed over $250,000 when you consider the annuity.

They are risking a lot more than the down payment or do you believe that they hold a balloon mortgage for 50 years?

: If something were to happen to this property, an earthquake a fire, the renters need to find a new place to live and buy new furniture. The owner has lost many thousands of dollars. Landlords are not worried, that's what homeowner's insurance is for.

Everyone knows that insurance companies are shiesters. They will try to get buy with paying as little as they can. I don't believe that insurance would ever pay enough to restore something to its former state.

I remember my boyfriend once got into a car accident. It was a minor dent on the car. The insurance company GIECO wanted to pay $150 for the repair. But no place reputable would do the job for less than $200. Only one place in 20 would do it for that amount and one has to question the quality of their work.

: : Regarding RC/RD causing landlords to raise their rents astronomically. Some will try, History has shown us that others will hoard vacant units just to drive prices up.

Don't you think that RC/RS is doing exactly that? People hoarding units that they would have otherwise abandoned years ago if it weren't for the cheap rate? If RC/RS were deregulated, that would open up $1,000,000 apts into the markets. Granted there will be some who will not move, but others are ONLY living in their units because of the cost.

In the former USSR, the gov't proclaimed that a vendor could not charge more than a certain rate for Bread. At this price, it was below the cost that a baker could break even..... Because of this, bread was in short supply. It was almost impossible to get quality bread unless it was sold on the black market. When it was purchased via the Black market... the prices were astronomical. Those who couldn't pay, had no bread at all. When the gov't deregulated the price of bread, now the bakers could charge what they deemed fair.... the market determined the price..... there was an abundance of affordable, quality bread. This is a simple law of supply and demand.... the reason why apts are so high is because 1 million of them are out of circulation in the running. That makes a lot less availability for vacancy and thus drives up the prices.

: One of my children has been accepted to a Specialized High School, he is a very intelligent boy. His subjects will include Architecture and Engineering. I hope he will eventually attend N Y University and take subjects like City Planning. If we get our opportunity to remain in NY, there will be an answer for everyone in 8 years.

You better tell your boy to look elsewhere for a job. To get your license in architecture you must get a 5 year degree from a reputable university. Then you must intern under a licensed architect for 3 years. The cost of his loans will make it very difficult for him to take a low paying job. And let me tell you, Architecture is an old boys club. They will take your son under their wing as an intern, but they will not pay him much, and certainly not enough to repay his student loans. Then the issue about building... you can't employ many architects if there is no building. The architecture field is a field that is very cut throat at the moment. I know architects who have been in the business for 20 years. They are essentially looking for a job ever 6 months. It's called "Flex Staffing." Meaning... they will hire your son when they are busy and fire him when the business slows up.

My brother has a degree from Pratt in Architecture. His is an expert at AutoCad. In fact he used to do technical support for it. He worked in the field for several years. Looked for work twice a year. He is now working in the computer industry.

If there is no new building... architecture is not a recommended field to get into.!!!!

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