Posted by rslux on April 18, 1997 at 13:10:52:
In Reply to: Re: Please End Rent Regulation posted by Sir Loving on April 16, 1997 at 00:17:30:
: Lets get real... you don't have to tear down the block in order to remodel an apartment. After theses appartments are vacated due to attrition wealthy landlord's contractors easily redo the apartments and the landlord proceeds to charge new market rent. (See the NYC Rent & Rehabilitation Law).
That's for sure -- my building is a perfect example. There are 13 units total in a 6-story walkup, some of which are rent-controlled and some of which are rent-stabilized (including mine). The variance between what people in different categories pay for the same apartments is insane. We moved in 8 years ago and pay $1400 for our apartment on the 6th floor. Our downstairs neighbor, who's rent controlled, pays $600 and change for the same apartment! And the other apartment on my floor was renting for $535 to the old tenant. After he left and the landlord renovated the place, that apartment is now being rented for $1960.
I don't honestly know whether ending rent control will make things better or worse, but the situation we have now is a mess. Maybe ending rent control would be a good thing, just to see what will really happen.
Of course, since I have co-op owning family here in the city, I have a safety net if the worst should come to pass. I realize not everyone is that lucky. But still, I think it's worth trying.
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