How does NYC rent control work

Discussion in 'The Howard Stern Show' started by MutteringJohn, Aug 14, 2014.

  1. MutteringJohn

    MutteringJohn Well-Known Member

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    This is off topic but I assume many here reside in New York. I have read that there are about 1 million NYC apartments under rent control. I have also read that these rent control apartments go back several decades. Are there many apartments on CPW under rent control from 55th to about 87th overlooking the park. How low would the rent be in these apartments. There was an article recently about a rent control apartment on fifth avenue in a great location. Many of these apartments are occupied by elderly people that have been there for 40-50 years.

    Some of my questions are these. How are these apartments transferred to new tenants and can they stay at the same rent. My impression was that once the original tenant dies or moves away into a nursing home or other facility the landlord can raise the rent to current levels. Can the leases be transferred to anyone. Because of the desirability of these units I had always heard that the way people get them is by knowing somebody. They are never advertised. You always hear of the Benjy's of the world getting an apartment for $800 a month when everyone else is pay $4000 for the same unit. What I also can't understand is how a landlord can be forced to keep rents low on apartments that are rent controlled going back to some antiquated law from WWII when veterans were returning home. This whole thing seems like secret society that only a few people know about. Almost all the apartments in Santa Monica, Ca are rent controlled. Again I'm just curious how this whole thing works.
     
  2. Nemo

    Nemo Beer Can Thick Gold

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    ask Charles Rangel
     
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  3. HeyThere

    HeyThere Active Member

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    From what I understand, a unit can only qualify for rent control if it has been occupied by a person/family since 1971. The only way it can get passed to someone new is if they are related, and have lived there for at least 2 years. It's super rare, I think it's something like 2% or 3% of apartments are rent controlled. Also I'm pretty sure there is a rate that the rent can be increased (with a max) so the landlord is still able to cover needed costs. I don't live in NYC, but we talked a bit about it in some of my urban geography classes in college.
     
  4. SomerSky

    SomerSky Obsessed with what I hate Banned User

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    There is rent controlled and rent stabilized....
    Old ladies living on Park Ave for $400 is a truism, but you can in fact pass it on to your immediate family, so invariably someone is on their death bed, and the grandson move in....They will attempt to kick you out, and I think you have to make less than maybe 100,000 in order to stay in there, or something like this, they cant really kick out family.
    rent stabilized I think means you can only raise the rent X amount every year, but the initial rental on it could be fair market value. like paying $3000 a month and it only goes up $50 a year...I hope this helped somewhat, even if I did ramble....
     
  5. nicksgt

    nicksgt Well-Known Member

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    Urban geography? Is that code for something or actually the name of a class?
     
  6. NotMyBro

    NotMyBro VIP Extreme Gold

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    [​IMG]
     
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  7. landfill

    landfill Well-Known Member

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  8. HeyThere

    HeyThere Active Member

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    Haha, like city planning and stuff like that
     
  9. MutteringJohn

    MutteringJohn Well-Known Member

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    That's still a bargain if it is rent stabilized. I still don't understand all this. If these rent controlled apartments go back to the 40's, 50's and 60's are you saying that everyone is passed along to next of kin because the amount of them doesn't seem to be drying up. As I said almost all the apartments in Santa Monica are rent controlled. The original tenants should be dying off and yet there are virtually no apartments for rent in Santa Monica. I can't believe that in each case the next of kin wants to live in the apartment. They can't sublet it to my understanding because that would violate the lease agreement and the landlord could start an eviction procedure. It's harder to get information on this stuff than to find out about covert operations in the CIA.
     
  10. isabella

    isabella VIP Extreme Gold

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    people kill to get into a rent controlled apartment and they're pretty rare considering all the condo conversions that have happened since to 70's. to get into one is to win the lottery.
     
  11. ShutupMoron

    ShutupMoron Unknown Member VIP

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    How much do you have to slip him under the table for an answer? :c
     
  12. ShutupMoron

    ShutupMoron Unknown Member VIP

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    Grease the right palms and things happen. :c