Posted on 02/02/2016 9:49:45 AM PST by SeekAndFind
OR a smart person would do what i did when rent was still 500 a month on staten island.
work day and night for overtime and pay your rent with the first two 10 hour days and sock away money every month till it goes up. that was 17 years ago.
friend owns the house, apartment now rents for a grand, which still aint bad
Alistair Cooke famously lived in a rent control apartment in New York City. And I had the personal experience of subletting a rent controlled apartment in New York City for a summer from a very famous movie producer. He paid $800 per month for a one bedroom apartment two blocks from Times Square, but he made well into the eight figures per year. Its a scam.
Given the housing market, $735 for a five room apartment is about $1000-2000 too cheap for San Franfreako. The owner was being abused.
We have a friend who lives in Battery Park across from the WTC. $300 a month, she’s been there 41 years and will never leave.
Is she lucky or a prisoner? She does like it, the caged bird sings in this case.
It’s hard to empathize when so many non-poor people live in rent-controlled abodes. The whole thing is a rip-off.
This doesn’t seem like a rent control story. ?
Actually, rent control is a truly malevolent policy when coupled with criminal sanctions against landlords who fail to maintain standards of upkeep which often becomes impossible when the rent is controlled below market value. Landlord is caught in a squeeze and must forfeit his building, but that often incurs criminal penalties.
This article mis-states what has to happen in order for the Landlord to “move in” to his own property. Under SF housing law, the entire building has to be taken off the rental market for ten years. We have friends who live in another state who purchased a five-unit building on Telegraph Hill about 15 years ago. It took them five years (and a bunch of money) to be able to have an apartment in their own building, then another five to finally have the bachelor who lived in the penthouse decide to move out on his own so they could occupy that space. Oh, and thanks to rent control, landlords in SF can only raise rents 60% of what they should be based on market conditons. I guess the only thing that tickles me about our friends predicament is that they are Raving Lberals who have gotten a taste of their own medicine!
But here is a guy who has had three decades to get his act together and buy his own place.
Exactly.
We have a friend who lives in Battery Park across from the WTC. $300 a month, sheâs been there 41 years and will never leave.
And they both vote socialist. (Er, democratic.) Just as they have been trained by their masters.
How did it hurt this guy?
It didn’t.
He can now move to Crockett.
I can understand why a grown woman wouldn't want to share a small apartment with her sister, but the way she described leaving New York would make you think she was being deported to Haiti to be macheted by the ton ton macoute.
Is there property tax control on these properties?
I’ve known some rent control landlords and many occupants of rent controlled apartments.
Many of the renters I knew were well off. Actually they all were well off. They lived during the week in their cheap apartment and spent the weekends at their country homes or waterfront homes. Some owned Mercedes that they used to drive to their real home, one had a home and a 43’ sailboat. It was all legal. A woman I worked with actually had tears in her eyes talking about losing her $210 a month rent controlled place. She needed a tissue from her Louis Vuitton purse.
The story for the landlords was very different. One of the landlords I knew had to get an entirely new heating system for his apartment building. The commie rent control board lowered his rents because they said he now had a more efficient heating system.
lol!!
i’ll admit when i got sick (head injury) and had to leave my job at Rockefeller Plaza it hurt!!
but I ALWAYS lived on staten island which is not rural by any means, with half a million people, but it’s manhattan and brooklyn, and i LOVED coming home to my quiet apartment,
i’m 47 now and work on staten island as a dispatch manager overnight (far cry from graphics but good pay, esp. for staten island)
i dont miss the cummute :)
and now that i’m older, there would have been no more chasing women anyway. the mrs. might not like that :)
My sister lives in a rent-controlled apartment in Brooklyn Heights and has for the last 25 years. She’s tiring of living in the City, but free government sh** is a major anchor. Who wants to give up a cheap NYC apartment?
The building was built in 1880. I think that’s the last time any renovations were done to the place as well.
“What is the legal cover that allows cities to deny property owners the value of their property?”
Here you go:
“We’re going to take things away from you on behalf of the common good.” - Hillary Clinton
If a renter can find a two bedroom apartment with no garage or basement in the counties around Gay Frisco, the rents will be around $3000 per month.
Besides a good credit rating, renters need a monthly income from 2.5 to 3.5 times the monthly rent and an excellent credit rating to even be considered as renters.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.