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Manhattan Condo Market Index
It seems like a really widespread occurrence: quite a number of rent-regulated tenants who own income -producing properties out of state. They keep paying about 25% of market rate in prime Manhattan neighborhoods (Independence Plaza in Tribeca, UWS co-ops, etc.) Is it allowed? Is anyone interested, besides the affected landlords?
Why isn't it allowed? The tenant has to maintain the rent-regulated apt as primary residence, no restrictions on ownership of property or properties elsewhere. One's net worth does not enter into it.
commoner---what percentage of rent regulated tenants do this?
And what is your source for any number you have who do do this?
"One's net worth does not enter into it."
But income DOES.
"It seems like a really widespread occurrence: quite a number of rent-regulated tenants who own income -producing properties out of state."
And, your source would be...??
My sources: I have to deal a lot with nationwide statistics, and I won't get any more specific.
About income/net worth, etc.: I said INCOME-producing real estate. Subsidized housing is probably the most widely abused program, and the abusers are not shy about it at all. Everyone knows it and nobody cares...
ah...the old nationwide statistics gambit.
Rent Stabilization is not subsidized. I suspect the main component of the top-secret national statistic is servicemen living at bases and renting out their homes. Why do you hate the people who defend our country?
>Why do you hate the people who defend our country?
Are we under attack?
No, we are.