Bronx slums
Posted on 06/23/2009 5:54:40 PM PDT by Extremely Extreme Extremist
Tenants Want Status Quo, But Landlords Say Money Has To Come From Somewhere; Firewors Expected At Cooper Union
NEW YORK (CBS) ―
The New York City Rent Guidelines Board voted 6-3 on Tuesday night in favor of raising rents for the 1 million New Yorkers who live in rent-stabilized apartments, CBS 2 HD has learned.
Renters on a one-year lease will face a 3 percent or $30 increase, while those on two-year leases will face a 6 percent or $60 increase – in both cases the actual amount will depend on which is more.
The response by the thousands of tenants in rent-controlled apartments was expected to be heated, especially inside the Cooper Union, where tenants and landlords attended side by side. The emotional political theater going on downstairs in the great hall will impact thousands upon thousands of people.
The recession has created the worst economic environment since the guidelines board was created in 1969. When the board began its work on this year's rent structure a year ago, angry tenants blew whistles and shouted down the members, bringing the meeting to a halt. One woman passed out in all the excitement.
In previous sessions activists stormed the stage; landlords also pleaded for larger increases to cover renovations. No one ever seems to leave happy.
"Last year my rent increase was so high that I've never seen anything like it," Maria Cortes said. "It really put me over and I think a lot of people are hurting."
"I can't raise any of my top rents to make up for my cheap rents," Brooklyn landlord Tom Dana said. "They seem to think there are a lot of people out there who can pay $4,000 a month for an apartment. There's not. I wish I had some."
The board has never reduced or frozen rents in its 40 year history, and on Tuesday voted on the largest proposed hikes in two decades for the 1 million New Yorkers living in rent-stabilized apartments.
* One-year leases could have gone up as much as 4.5 percent.
* Two-year leases could have gone up as high a 7.5 percent.
Both sides were citing economic hardship.
"Insurance goes up every year. Every time you turn around the electric has gone up now. Fuel goes up every year now. I mean they gotta pass along the costs somewhere," Brooklyn landlord Arnold Fine said.
"The rent freeze is the best thing to do because of last year's extreme hike that they put on – 4 percent, 8.5 percent, which is way too high," renter Tony Navarete said. "And this year, because fuel costs went down, we're demanding a rent freeze. That way we can stabilize the markets at the moment."
I wonder how long landlords are going to put up with this?
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They’ve put up with this for more than 50 years, as long as any of the landlords have owned their properties.
I think by now they have their own coping mechanisms to deal with the unique tenant-landlord relationship as codified by NY law.
This will continue until NY suffers a real estate collapse and population flight that can change the status quo.
S if the rent goes too high, they can move, right?
“I wonder how long landlords are going to put up with this?”
Your proposal being, in view of the voting demographics, where these landlords have freely decided to own rental properties?
Bronx slums
No, they can't. Rent controlled apartments aren't readily available, and rents on the free market are much higher.
My point exactly.
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