Re:David Byrne: If the 1% stifles New York's creative talent...
by busterarm on Monday October 07, 2013 @02:21PM
(#6510145)
Rent Stabilization isn't all it's cracked up to be. Everyone I know in Rent Stabilized apartments has dealt with large rent increases with some regularity.
Even so, rent regulation is _not_ the problem. It's primarily the parking requirement and secondarily the zoning issues. All the co-op and condo owners who dominate most fo the neighborhoods affected WANT it to be this way because it keeps the price of their homes up.
Re:David Byrne: If the 1% stifles New York's creative talent...
by misiti3780 on Monday October 07, 2013 @02:57PM
(#6510388)
They can only legally increase your rent 2% every year or 4% every two years, and they HAVE to renew your lease by law unless you really fuck up (giving you the option of both a 1 and 2 year lease). The apartment only becomes unstabilized if your income is exceeds $250K or your rent exceeds $2500/month. The only possible way you would ever see a large rent increase (that I know of) if you lived in a rent stabilized apartment in NYC is if the owner of the building dumped a shitload of money into the building (there is an actual formula that depends on the number of apts, I believe), and then since the building is a lot nicer they actually increase your rent to market rates.
I agree with your second statement
Re:David Byrne: If the 1% stifles New York's creative talent...
by so_says on Monday October 07, 2013 @03:09PM
(#6510469)
The amount changes every year. It is voted upon by the rent regulation board. Last year these were the numbers.
For a one-year renewal lease commencing on or after October 1, 2011 and on or before September 30, 2012: 3.75%
For a two-year renewal lease commencing on or after October 1, 2011 and on or before September 30, 2012: 7.25%
Re:David Byrne: If the 1% stifles New York's creative talent...
by busterarm on Monday October 07, 2013 @03:07PM
(#6510454)
Heh. My mom has paid $5760 in increased rent since 1989 for new mailboxes and windows. $20/mo. Her and every other rent regulated tenant in the building. $15,360 for a new interior for the elevator. $80/mo since 1997. Her and every other rent regulated tenant in the building.
Capital improvements really hurt rent regulated tenants long-term.
http://www.housingnyc.com/html/resources/faq/rentstab.html#d...
"Rents Stabilization FAQ
See also Rent Control FAQ's
Is there a difference between RENT CONTROL and RENT STABILIZATION? What exactly is rent stabilization? Can my landlord evict me and use my stabilized apartment for his family, and how many apartments in the building can he take? What happens when the rent for my stabilized apartment rises above $2,500? How can I find out if my apartment is stabilized? Can the management company sell my stabilized apartment? Similar buildings in my neighborhood are stabilized - why isn't mine? Should my landlord inform me that my unit is stabilized? Disclaimer: By providing answers to frequently asked questions, the staff of the Rent Guidelines Board attempts to clarify the often complex programs and regulations governing landlord tenant relations in NYC. However, the information provided herein does not represent official policies or opinions of the City of New York or the Rent Guidelines Board nor should this information be used to substitute for advice of legal counsel.
Is there a difference between RENT CONTROL and RENT STABILIZATION?
Some of the people who email us say "rent controlled" but actually MEAN rent stabilized -- they do not know the difference.
Why is it so hard to be accurate? There is a difference between rent control and rent stabilization, as only about 38,000 rent controlled units exist vs. about one million stabilized units, and rent control has a different set of regulations than rent stabilization.
The term "rent regulated" encompasses both rent controlled and rent stabilized units. By the way, the Rent Guidelines Board has the responsibility for setting rent adjustments for rent stabilized apartments. We have no jurisdiction over rent controlled apartments, which is the responsibility of the NY State Division of Housing and Community Renewal (DHCR). "