What is the coli view on rent regulated apartments?

[UberEatsDriver]

Real estate speculation is the real problem.


If you can afford $1,400 and up for rent, you should be paying a mortgage.


The housing bubble has made it harder for legit people who want to buy a home.


There are also too many people who buy property with the sole purpose of renting it out.

Someone who can’t afford to rent definitely cannot afford a mortgage. How does that work?

 

[Wild self]

I'm a property owner, the fukk I care about you broke renters...

So,you know, those broke renters get fed up and destroy property value through VIOLENCE

 

[Wild self]

Let the market decide what is fair.
a lot of people want to live in nyc but want to pay Alabama prices

It be OK if that was the case. More disposable income = a stronger economy.

 

[Alvin]

not a bi-parisan issue and common sense, why would I want my rent jumping an exorbitant amount. Yes I support.

 

[Raw Lyrics]

I think rent regulation can work if they can somehow tie in the small rent increases into the landlord's property tax increase. In other words, if a renter's rent can't legally go up more than 1.5 to 2.0% at the expiration of the lease then the landlord's property taxes shouldn't go up more than 1.5 to 2.0%. If you're going to regulate rent, then you should try and regulate what the landlord is responsible for paying as well. Otherwise, how is being a landlord going to be profitable in certain areas?


Unless of course, you want the government taking over housing. They do such a great job with everything else, look at housing projects.

 

[Consigliere]

Rent control helps existing tenants while hurting future tenants.

 

[Alvin]

Rent control helps existing tenants while hurting future tenants.

expound

 

[Alvin]

I think rent regulation can work if they can somehow tie in the small rent increases into the landlord's property tax increase. In other words, if a renter's rent can't legally go up more than 1.5 to 2.0% at the expiration of the lease then the landlord's property taxes shouldn't go up more than 1.5 to 2.0%. If you're going to regulate rent, then you should try and regulate what the landlord is responsible for paying as well. Otherwise, how is being a landlord going to be profitable in certain areas?


Unless of course, you want the government taking over housing. They do such a great job with everything else, look at housing projects.

That's on the city, federal government needs to give tax breaks (if that's the correct term) to developers or subsidize housing for the majority because if not they will follow market trends and market trends say people want luxury and trendy apartments/condos which will be more expensive.

 

[Adeptus Astartes]

expound

When a controlled tenant moves out, the landlord can raise rent to market rates.

 

[Raw Lyrics]

That's on the city, federal government needs to give tax breaks (if that's the correct term) to developers or subsidize housing for the majority because if not they will follow market trends and market trends say people want luxury and trendy apartments/condos which will be more expensive.

Yea, I'm just throwing ideas out.

Granted, the owners of the building in the Bronx that caught fire were given 25 million dollars by the State, for repairs, and I think they pocketed the money. So something needs to be done about this honor system where owners get incentives on the condition they do certain things, and the government doesn't follow up to enforce.

 

[Alvin]

When a controlled tenant moves out, the landlord can raise rent to market rates.

damn, but shouldn't it be on the building itself? I understand different spaces have different rent prices (studio vs a 3 bedroom) but I thought it was a building, in NYC they have rent controlled buildings.

 

[Consigliere]

expound

Its good for existing tenants who end up paying less the market rent.

It can hurt future tenants because it squeezes the supply of existing units. It creates a situation where the landlord has to decide between letting a unit stay unoccupied vs renting it and not being able to capture market rate rent.

example: in DC rent controlled buildings can only increase their rents when leases expire and the increase is based on the amount of inflation in the consumer price index

Where this becomes an issue is when you have someone paying $500/month but the rest of the neighborhood is renting for $2000/month.

As the landlord you reach a point where it’s better to clear a building and convert it to condos or sell it instead of leasing it to people for below market rate.

 

[Alvin]

Its good for existing tenants who end up paying less the market rent.

It can hurt future tenants because it squeezes the supply of existing units. It creates a situation where the landlord has to decide between letting a unit stay unoccupied vs renting it and not being able to capture market rate rent.

example: in DC rent controlled buildings can only increase their rents when leases expire and the increase is based on the amount of inflation in the consumer price index

Where this becomes an issue is when you have someone paying $500/month but the rest of the neighborhood is renting for $2000/month.

As the landlord you reach a point where it’s better to clear a building and convert it to condos or sell it instead of leasing it to people for below market rate.

they do this shyt in miami and it's the opposite, you have newly built condos with only 5-10 permanent residents, the rest use it as a money haven? From latin america or other foreign countries, so now there is a market for the condos but the landlord rather just make a quick buck compared to selling it to people.

 

[fifth column]

It’s gonna mess up my goals of being a millionaire

Trying to get rich off the back of the poor

 

[Consigliere]

they do this shyt in miami and it's the opposite, you have newly built condos with only 5-10 permanent residents, the rest use it as a money haven? From latin america or other foreign countries, so now there is a market for the condos but the landlord rather just make a quick buck compared to selling it to people.

Yeah it’s different in different jurisdictions. But same idea. Miami isn’t rent controlled tho so nothing stopping them leasing those units.