Re:What Airbnb Did to New York City
by murph-almighty on Thursday March 08, 2018 @10:15AM
(#16544788)
Why so? Here Grandma owns the house, but in the other situation she doesn't own the apartment, the landlord does.
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Because the landlord knew exactly what they were doing when they rented the apartment to Grandma. If the landlord didn't want to enter into a contract the involving rent control, they shouldn't have been in the business of renting NYC apartments.
Re:What Airbnb Did to New York City
by true_religion on Thursday March 08, 2018 @10:57AM
(#16545091)
Contract law usually doesn't allow for lifetime contracts because people can't consider such a long timespan logically. Rent control is the same thing. It forces a contract with on going payments and services with no end date. Is there any escape clause?
As far as I'm aware, people occupying rent controlled apartments (in NYC) can opt to be bought out by their landlord. I've heard a number of stories of people using that windfall (generally buyouts are on the order of $10^4-10^5) to improve their general living situation, and I've also heard stories (including someone I knew personally) of people squandering that windfall and ending up living out of their car.
IANAL...
I believe the landlord is bound by the language of the law, not the contract. If the law enabling grandma's rent control were fully repealed, there'd be no rent control-related reason the landlord couldn't raise Grandma's rent to market rent. Basically, Grandma AND the landlord both needed to know what they were getting in to.
Grandma: "I want this apartment."
Landlord: "OK, it's $250/month with rent control. But just so you know, if they ever repeal that law, and market rate is more than the $250/month you're paying, I'm raising you rent."
Grandma: "Understood. If I were the landlord, I'd raise the rent on the grandma renting my apartment, too."
Isn't a sale a lifetime contract?
Apartment rental is explicitly not a sale. We should probably keep talking about the same thing and not keep moving the goalposts to suit our argument.
Isn't an NDA a lifetime contract?
I have never seen (and certainly have never signed) an NDA that covers an indefinite period of time.
Not true: blanket legislation in NY brought all buildings constructed pre 1947 into rent control and rent-stabilization to pre-1974 buildings: