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Posted by MikeW on March 08, 1999 at 15:43:21:

In Reply to: Mysterious behavior posted by Shelley on March 05, 1999 at 19:56:05:

I doubt that this has anything to do with Co-oping the building. More likely, the landlord is doing captive illegal sublets. What I mean by this is the following: An apartment becomes vacant. Instead of giving the lease to a real tenant, he creates a 'straw' tenant either a cooperative person, or even a ficticious person, to hold the lease. He then illegally sublets the apartment, at a much higher than allowed rent. The sublettor doesn't know they are really dealing with the landlord. The prime tenant (really the landlord, directly or indirectly) warns the sublettor that if the landlord finds out about the sublet, he can have them evicted (hence the sublettors nervousness). The sublettor, happy to have an apartment at all, plays along. The landlord then laughs his way to the bank.

At certain respectable looking intervals, he flips the lease to another name, picking up a vacancy increase each time. If he can play this game successfully and get the rent over $2000, he can get the apartment out of stabilization altogether.

Follow Ups:

• Re: Mysterious behavior Shelley 3/09/99 (1)
  • Re: Mysterious behavior MikeW 3/09/99 (0)
• Re: Mysterious behavior Labb 3/09/99 (0)

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Comments:
: I doubt that this has anything to do with Co-oping the building.  More likely, the landlord is doing captive illegal sublets.  What I mean by this is the following:  An apartment becomes vacant.  Instead of giving the lease to a real tenant, he creates a 'straw' tenant either a cooperative person, or even a ficticious person, to hold the lease.  He then illegally sublets the apartment, at a much higher than allowed rent.  The sublettor doesn't know they are really dealing with the landlord.  The prime tenant (really the landlord, directly or indirectly) warns the sublettor that if the landlord finds out about the sublet, he can have them evicted (hence the sublettors nervousness).  The sublettor, happy to have an apartment at all, plays along.  The landlord then laughs his way to the bank.

: At certain respectable looking intervals, he flips the lease to another name, picking up a vacancy increase each time.  If he can play this game successfully and get the rent over $2000, he can get the apartment out of stabilization altogether.


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