The rent is too damn high guy!
Posted on 02/09/2024 6:47:20 AM PST by ChicagoConservative27
The rent’s too damn high in New York — but the broker fees are really murder.
City dwellers wanting to score a place to live at a reasonable price are finding that out the hard way — as they are being socked with outrageous fees of up to $20,000 just to be able to rent an apartment.
One home shopper claims he almost lost it when a broker tried to soak him for a $15,000 fee for a $1,100, rent-controlled apartment in a run-down brick building in Flushing recently.
“I never replied because not in a million years would I ever do that,” Christian Garbutt, 27, told The Post Thursday.
(Excerpt) Read more at nypost.com ...
That is also called a bribe in the rent controlled NYC environment.
Well, what is the actual market rental value of an old rentcontrolled apartment? Some legal or illegal juice to get such a thing is exactly what Nobel Prize winning economist Coase said would happen. You keep the rent controlled apartment for a few years and you are still way ahed of the game.
There are thousands of dead people living in Manhattan rent controlled apartments—and they vote.
There are two prices, at least, for everything.
I lived in NYC for nearly two decades, during which you had to wait in line to see any advertised apartment and if your “paperwork” was missing or out of order, you wasted your afternoon. Yes, those things make headlines.
And yet, always had a decent place to live, always at a rate I could afford, always had nice neighbors, despite having moved countless times during the first decade.
But 80%+ the New York city dwellers will continue to keep voting for the very same Party that diverts tens of millions of tax dollars to illegal immigrants and prioritizes the illegals before the taxpayers. I find it very difficult to be sympathetic to problems YOU vote for.
“Consumers,” I call them.
There are lots and lots of people there who didn’t vote for that, anymore than anyone voted for Joe Biden.
Why is it so difficult for people to understand that, in order for an election to be stolen at the national level, as it obviously was in 2020, elections at the local level have to be stolen for decades?
Supply and demand. Otherwise the broker fees would not be paid. Damn that Adam Smith and his invisible hand.
Exactly, you want rent control, no one mentioned no brokers… Ain’t government control great! Thanks dear leader!
A $1,100 “rent-controlled” apartment! A $1,100 apartment is rare in most parts of the country these days. It’s WAY below market rate in NYC, even in the worst parts of town. And once you get in, they can’t toss you out and your rent almost never goes up.
An up-front fee of $15,000 to get into such a deal seems fair to me. Prospective tenants should do a quick break-even analysis on a market-rate apartment vs a “rent-controlled” apartment with a big up-front fee.
Allow me. If he’s saving $1,000 per month (easily), then he breaks even at 15 months and, after that, he’s in the money. It ain’t rocket surgery.
Ha! NYC can eat itself.
This is an old article but I remember hearing about other celebrities who were benefiting from rent controlled apts in NY.
https://fcpp.org/2005/12/19/celebrities-love-new-york-rent-control/
If I understand?
You pay a 15k fee.
You get an apartment for $1000 essentially forever, in NYC.
That same non rent controled apt would be probably $4k/mo.
And once you have it, you can always sub lease it.
If that is the case? it sounds like a bargain.
I’m not talking about national elections specifically. But in the last 100 years New York City has elected exactly 3 Republican mayors (La Guardia, Lindsey, and Giuliani - Bloomberg doesn’t count as he is really a Democrat).
In 2021, following the de Blasio disaster, 20% of New Yorkers voted 60% for Adams. So, in 50 years New Yorkers elected Dinkins, de Blasio, and Adams. Yeah, this is on the NYC voters.
If you are an illegal, the government pays all of these, correct?
I wish that guy would come back.
It’s NYC and given the market rental rates, a $15k expense would pay for itself in about a year with a controlled $1100/mo rent. A longer tenancy would pay off even better. Welcome to the real world.
“Well, what is the actual market rental value of an old rentcontrolled apartment?”
Ask Trump.
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