What is the coli view on rent regulated apartments?

[bnew]

I would think having long-term tenants in a neighborhood would be beneficial for most communities over having new tenants who live there 1-2 years at the most because rent keeps drastically increasing.

 

[UberEatsDriver]

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.

Yes they do but I’m not too well versed on what apartments can come back on the free market when the renter leaves.


One big issue with rent control is rich people paying $500 a month for rent. A rich person should get the fukk out of here with that. Also rent control is the reason why the waitlist for a cheap apartment can be 6-10 years long.

lmao a building dead ass called my mom 12 years later lmao

 

[UberEatsDriver]

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.

Read about this too

 

[Wild self]

Trying to get rich off the back of the poor

They dont see it like that. They treat poor people like shyt in America. Even other (former) poor people themselves.

 

[desjardins]

From my understanding of how it works in NYC doesn't see like a reasonable solution to anything.
People who can pull it off never move, often subletting or having roommates to the point they might be making more money off the apartment than the landlord
Then because a landlord might have x amount of doors being held hostage by long term tenants they will extract profits elsewhere (newly available units) as the supply and demand is off due to the number of units being held hostage

 

[1thouwow]

Trying to get rich off the back of the poor

My current tenant is a cac family