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Rent-regulated renters who own properties

Started by commoner
over 13 years ago
Posts: 197
Member since: Apr 2010
Discussion about
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?
Response by nyc10023
over 13 years ago
Posts: 7614
Member since: Nov 2008

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.

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Response by columbiacounty
over 13 years ago
Posts: 12708
Member since: Jan 2009

commoner---what percentage of rent regulated tenants do this?

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Response by Wetlands
over 13 years ago
Posts: 59
Member since: Apr 2011

And what is your source for any number you have who do do this?

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Response by NYCMatt
over 13 years ago
Posts: 7523
Member since: May 2009

"One's net worth does not enter into it."

But income DOES.

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Response by SunnyD
over 13 years ago
Posts: 107
Member since: Jul 2009

"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...??

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Response by commoner
over 13 years ago
Posts: 197
Member since: Apr 2010

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...

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Response by columbiacounty
over 13 years ago
Posts: 12708
Member since: Jan 2009

ah...the old nationwide statistics gambit.

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Response by alanhart
over 13 years ago
Posts: 12397
Member since: Feb 2007

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?

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Response by huntersburg
over 13 years ago
Posts: 11329
Member since: Nov 2010

>Why do you hate the people who defend our country?

Are we under attack?

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Response by alanhart
over 13 years ago
Posts: 12397
Member since: Feb 2007

No, we are.

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