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rent regulated developments

Started by jaesee
over 13 years ago
Posts: 41
Member since: Feb 2011
Discussion about
Just saw on dhp website that all these tax abated condos become rent regulated once you start receiving tax benefits? Why would anyone buy one of these things for investment if they're automatically regulated?
Response by NWT
over 13 years ago
Posts: 6643
Member since: Sep 2008

The rent regulation doesn't apply to individually-owned condo units. You can charge whatever you can get.

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Response by jason10006
over 13 years ago
Posts: 5257
Member since: Jan 2009

TOP - you mis-read. Tax-abated new RENTAL buildings, yes.

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Response by jaesee
over 13 years ago
Posts: 41
Member since: Feb 2011

thanks. looking to buy and doing some reserach. i guess it's safe to venture out into the waters again. it certainly was confusing reading. I looked at the dop and dept of housing and preservation website and links. And, they all basically said:

All rental units become subject to rent stabilization for the duration of the benefits, with initial rents set by the Tax Incentive Programs (TIP).

So, by rental units they mean rental buildings. Thanks folks. off on my hunt again. i hope to one day grow up and be like some of you here.:)

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