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| Re: I pay $564.97 a month rent. (1122190) | |||
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Re: I pay $564.97 a month rent. |
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Posted by GP38/R42 Chris on Thu Nov 7 11:31:19 2013, in response to Re: I pay $564.97 a month rent., posted by AlM on Thu Nov 7 11:14:27 2013. STILL false, as you keep forgetting that there are THOUSANDS, 10's of thousands of apartments under rent stabilization in the city that rent UNDER market value due to rent stabilization. This causes people not to move out of a stabilized apartment, so it DOES make a shortage. An older woman renting a 5 room apartment for $900 a month, stabilized will not move to a two room apartment for $1300. The result, families paying over inflated prices for small apartments. It also makes the REMAINING apartments more expensive. Apartments at market rent are vacated easily. A tenant may live there 2 or 4 years, and move, as they can get similar apartments for the same price, or upgrade or downgrade. The result? These apartments have vacancy leases much more often, and the legal rent gets higher and higher, all while the low ones remain low, as people have no incentive to move, or can't move without a HUGE increase in what they are paying.I have it in my own building. I have 6 apartments. 4 of them are at market rent, and two of them are far below market rent. 2 or the 4 apartments have tenants in them where they pay LESS than the legal rent, as those two apartments have had more vacancies over the years. While still not up to that "riduclous" 2000 number you keep saying, the legal rent is about $200 more than I would get on the market. AT the same time, the other two apartments are about $500 BELOW market rent. It makes a very uneven spectrum, and DOES make the AVAILABLE apartments HIGHER because of it, as it causes an artificial shortage. |
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