NYC rents spiking and landlords want them to go higher

The Rent Stabilization Association, which represents 25,000 owners and managers of around 1 million rent-stabilized apartments in the city, on Tuesday proposed a rent increase of 4.5 to 6 percent on one-year leases for rent-stabilized units and 7 to 9 percent for two-year leases. Renters say they can't afford that, but landlords say they are struggling to maintain their buildings.

[@hejiranyc]

$9500 per month to live in a dark apartment with a fire escape? The world done gone mad.

[@M3LODY2508]

Lmfaoooo I was thinking the same smh

[@Mrten-jg4qj]

This stupid round sick trick insane revolving idiots been mad, for a very long time. They are nothing but free will controlled playactors. Made a fool of then die.

[@shnarfer]

Time to live in the woods

[@BJGreene]

The $6000 was already too much on its own. Prayers to any single parents who live in that city trying to pay rent for a mulit bedroom apartment on one income. I'll be staying in the country.

[@nickcooler2658]

She just got played smh 🤦‍♂️

[@siobhanebert6965]

These are the same landlords who never even maintained their property correctly asking for a handout from their employer: The residents.

[@humanoidphenomnon6754]

Direct that anger to the ones you voted for.

[@fuvjvjchxhc7063]

@@humanoidphenomnon6754 Everyone talk about who you voted for when the problem is across the board (Democrats/Republicans) Americans are too greedy and its never about the people. Take Zillow for instance , they started buying up houses which caused a spike in the markets the forced people to buy at a higher price. Sad

[@siobhanebert6965]

@@humanoidphenomnon6754 no anger. just facts... this doesn't affect me at all. lol

[@anthonyhuber-permanentlyre7808]

*Did you not watch the video, or take an ECON class?* If the Landlord can't make a profit on his property, then he has no money for capitol improvement.

[@siobhanebert6965]

@@anthonyhuber-permanentlyre7808 then they need to retire... get a new job

[@MAG320]

Not paying $9,500 for rent. Over 20 years, thats $2.3M. FOH.

[@daljitsingh6154]

Wtf that’s penthouse money

[@cherubin89k]

Over 20yrs it would be even higher due to rent hikes and inflation these are short lease rentals 3yrs 9,500 could be 11,000

[@nunyadambusiness3530]

Housing is not an investment. It is shelter. It would be more sustainable, and drive rents down by up to 60% if everybody had a Tenant Union. Where the maintaining, costs, taxes and mortgage is divided amongst the # of units, where no profit in being made, not one person, telling a family that they're homeless. Top annual expenses for a 300 unit building, $980,290 + $300,000 emegency fund for building / 300 units = $4,267.63 / 12 months = $356 per unit per mon at most It's all price gouging and bullshit. We need a purge of Landlords. Same people who whine about the homeless, are the same people pricing out working class families, turning them into homeless. (ironically the same ones who won't adjust their wages to afford said $1,500 unit) We can literally have $350-600 rents.

[@eddiesaninocencio7486]

@@cherubin89k "wow" I'm shocked by the rentals, I'm a born and raised in the Bronx, joined the Army, now I'm retired cannot live in NYC with my small pension.

[@jjbdbd8279]

Omg sheesh 😂😂😂

[@Michael-qe3bk]

And this why is to many homeless people in New York City

[@blakebortles6098]

Just not NYC but nation wide

[@mokaakasyia8355]

RIGHT WTF AND GOVERNMENT DONT CARE

[@jtsy4239]

Government is evill

[@SDALLE99]

“It’s not the responsibility of this board to take in consideration income insecure tenants” That’s like a serial killer saying “it’s not my responsibility to handle the rising crime rate.” The tenants wouldn’t be “income insecure” if you didn’t bankrupt them. What a tool.

[@marthafazzini9835]

Nice guy. “ income insecure”. There , but for the GRACE of GOD go I.

[@helena3631]

its all about the location and transportation..some of these apartments look like a cave,,but the landlord has to charge based on what the going rate for what the area is as well

[@whatever5922]

He’s beyond stupid

[@buk6708]

Can you explain how they bankrupted them? Basically you mean the landlords want market rate and nyc lazy project losers want cheap and free stuff. That’s pretty much it lol

[@bernaclischurchill4463]

I totally agree, what a prick that guy is. Ms. B. Churchill

[@johnlewis3891]

This is coming at a time in which the mayor and city are going after homeless people in the streets and trains. These rent increases will increase the homeless problem in our city.

[@asibaparker3207]

Facts we are in big trouble and the mean time they sending trillions of dollars to the uk

[@lalawala9929]

Not only that but he just shut down a shelter (I'm sure more shutdowns are coming) and homeless services lost funding this year. I dont forsee this playing out well...

[@anthonyhuber-permanentlyre7808]

*Hmmm, sounds like Government involvement in housing is a social policy failure and should get out of the housing market.* Maybe then the market will work as intended.

[@Yandel21ableify]

New York will have California amount of Homelessness

[@libbychang413]

duh!!...thats the whole point...

[@crystals2186]

They need to renovate these apartments. Paying $2000 for 1955 appliances and floors.

[@choosetoshine2610]

Real talk

[@NinaBabyTV]

Why are so many apartments taken up by ppl who don’t even live in NYC? things need to change... by a lot.

[@khaynes4825]

They are used by foreigners to “park” their money in the U.S.

[@realbrooklyn7995]

9 grand a month? Who the hell got that kind of money? Of someone is paying 9 grand a month, they must be making excess of 150 a year in order to stay above. This is a damn shame.

[@garnettbrown]

Not when you have 5 roommates living with you. smdh

[@BrandonBooks]

Some New Yorkers earn a lot of money you would be surprised.

[@garnettbrown]

@@BrandonBooks Very true

[@cherubin89k]

Even if they are earning 150k after taxes they still would be spending more than 60% of their income on rent thats insane!

[@frankorobinson1540]

Move upstate buy a whole 🏠 house for less ,if your employment allows you to be able to,plus its safer ,nyc is turning into Gotham with no batman in sight.lol

[@McJesusLightningFish]

New Yorkers need to band together. This isn’t normal. These landlords never properly maintained their properties but now they want to when they prove their case to the city 🤔

[@nialoren206]

The raised rents are absolutely crazy. However, when the city told landlords they couldn’t evict or force tenants to pay during covid, why didn’t they think this would lead to spiking rent. NYC has lost all its soul and is just god awful now.

[@DB-115]

Research the Great Barrington project & the great reset. Many within the movement have been predicting this very outcome since summer 2020.

[@millionmasso]

Landlords didn't lose a dime.. they got money from the rental assistance program ...

[@Kudos2Kawaii]

@@millionmasso no they didn’t.

[@akwasigoines2802]

@@millionmasso not true do your research

[@joyaustin6581]

My property taxes are going up 50%

[@raymundovalentin2791]

Everyone needs to band together and engage in class war against these slumlords, no way we can keep getting squeezed. Organize rental unions!

[@frankorobinson1540]

@@humanoidphenomnon6754 phuck that nasty azz city its turning into a giant landfill.lol

[@annieothername]

What is an HOA but a rehash of unions? Suburban neighborhoods have communal relationships and they haven’t turned into projects? Having a union wouldn’t suddenly turn your neighborhood into a housing project, that’s not how that works? Not to say union work or housing associations are without their politicking but why would it ever be an issue to have unified legal voice against an industry that takes half of the average renter’s hard earned cash?

[@rokrok27]

We also need lower tax rates

[@brijean5865]

No pay your rent you broke boy.

[@MercedesAshleyOnline]

Yeah like everyone stop paying all rent period. Just to piss them off.

[@brooklynsown8217]

9500 a month for that box whoever is paying that is crazy

[@thuandao4243]

Ny always been, extremely High rental + high crime rates + ny cops quitting....what can go wrong ¿ moving is expensive but who can afford to stay¿ rich people are stupid enough to pay though.

[@stephanielalaland4314]

With that I can pay off my car load

[@marcelrodriguez2067]

Shit i wish i was making that much money a month lmao

[@vee_da_reaper2350]

@@thuandao4243 it was never this high are u shot

[@agero2k6]

9500 for an old shack??? Noo wonder why Florida is getting overcrowded with New Yorkers. For 9500 you can get a mansion in Florida, not an old shack that was built in the 1920s.

[@raylegend808]

These landlords don’t want you to have any money left to eat after you paid them 😱

[@anthonyhuber-permanentlyre7808]

*NYC does not want the Landlords to turn a profit, so the building sits empty, thus reducing housing stock.*

[@nunyadambusiness3530]

​@@anthonyhuber-permanentlyre7808 Housing is not an investment. It is shelter. It would be more sustainable, and drive rents down by up to 60% if everybody had a Tenant Union. Where the maintaining, costs, taxes and mortgage is divided amongst the # of units, where no profit in being made, not one person, telling a family that they're homeless. *Top annual expenses for a 300 unit building, $980,290 + $300,000 emegency fund for building / 300 units = $4,267.63 / 12 months = $356 per unit per mon at most* It's all price gouging and bullshit. We need a purge of Landlords. Same people who whine about the homeless, are the same people pricing out working class families, turning them into homeless. (ironically the same ones who won't adjust their wages to afford said $1,500 unit)

[@anthonyhuber-permanentlyre7808]

@@nunyadambusiness3530 *"Housing is not an investment. It is shelter."* Of course its an investment, landlords, builders & developers do not go through the expense out of the goodness of their hearts. Without that, the housing stock would decrease, thus driving up rents. Sheesh, take an ECON class.

[@anthonyhuber-permanentlyre7808]

@@nunyadambusiness3530 *"It would be more sustainable, and drive rents down by up to 60% if everybody had a Tenant Union."* I have been on dozens of work sites and refurbished building projects, I have yet to see one tradesman being paid by a Tenant union. You just expect people to work for free, to provide you with a Flat at below market rate. Also, rents reflect the market, not what you wish them to be.

[@anthonyhuber-permanentlyre7808]

@@nunyadambusiness3530 *"where no profit in being made,"* This is why the housing stock is on a steady decline, because there is a war against people making a profit. No profit, no investment, no work, no housing stock.

[@TheModernInvestor]

I like how casually she said "$9500 a month"....

[@MOTM1234]

She probably knows how delusional the owners are, but has to keep up appearances. I was shocked when she said it was 6k prior. The shot of "708" at 1:50 looks like the entrance to my anus.

[@umeng2002]

Oh come on! Just don't be poor 🤣

[@MissCane9]

@@umeng2002 Wow. Shallow and insipid comment. Some people are social workers. Some people are secretaries others are teachers. Not everyone chooses a profession based on its ability to cover rent. Most people aren't that vapid.

[@umeng2002]

@@MissCane9 I'm just saying what the White House Press Secretary said: Can't afford high gas prices? Just buy a $40,000 Tesla.

[@kooganh6276]

@@umeng2002 I get the joke loo

[@Virgocloud]

708 looks like a nycha building who is she fooling for $9500?🙃

[@casandrakelly]

That’s exactly what I said

[@86reyleon]

I thought that building was a NYCHA building 😂

[@cantkeepmedown100]

😆

[@ricnyc2759]

It really looks like a NYCHA building. LOL

[@MissCane9]

Thanl you

[@gratefulbear257]

9500 a month hunny with that money ill finance and own a great home not some overpriced apartment in some extremely overated city .

[@blakebortles6098]

Higher? Damn some greedy pigs

[@GretzkyEnt]

They were never maintaining these damn buildings 2,000 plus rent & the heat barely be on in the winter

[@martinzelaya2927]

Just move out of NYC. Let the apartments rot. Let the city keep charging them top tax. Make sure there is no right off. If they don't pay the tax, confiscate them and turn them into affordable housing. Contract to the real estate manager that charges the least. Though bloomberg's NYC is over, we should live by his words, "when you want to see change, hit them in the pockets".

[@kingzts]

here’s the thing……the younger generation is getting richer at a faster pace. Tech industry has made millionaires over night so these are really the people driving the prices up. Younger professional are what are taking over.

[@martinzelaya2927]

@@kingzts I live in Chelsea. The apartments are mostly empty. Most of the activity is on the weekends from people driving into the city. What remains is people in rent stabilized apartments or living in high crime areas. As far as office work, it is primarily a younger work force but it is a sublet situation by the lease holders. No one is renewing their lease and no new leases. The sublet is at a deep discount with the most 5 years left. Remote work is hundreds of thousands in savings.

[@velvet7774]

They are already rotted ijs

[@josephinacotto]

@@martinzelaya2927 trueeee

[@FC-hj9ub]

People work there. "Just get a new good job"

[@only1adrienne]

Broker here. $9,500/month is approximately a $2M mortgage. Yes that will buy you a mansion (or at least a McMansion) anywhere in this country. New Yorkers sometimes pay that to get their children zoned in high performing public schools. Sounds crazy but I’ve had many clients do this, especially in Tribeca and the Upper East Side. They also do that if they aren’t sure they will be in New York long term and don’t want to set down roots here. I’m not surprised by these prices at all. All of my rental portfolio is coming back online for the peak season (Memorial Day to Labor Day), and they will all be significantly higher. But Vito’s attitude is especially concerning and elitist. If some of these landlord can’t maintain the building sany more, they should sell it to a landlord who can. It’s wrong to approve someone based on their current annual income (which in NYC is 40x the monthly rent), then raise their rent over 7% annually. Industry standard is 3-5% year over year, NOT 7-9%!!

[@nickcooler2658]

I was thinking the same thing that lady that live there is so dumb she could of brought a mansion smh. She got played

[@paulconcadora9395]

And that's the prices people are paying in new York city/ Brooklyn , And people are paying those prices for apartments, and the area around them and the subways even just outside of their doors, is the most dangerous place to live, crimes and criminals are all over everywhere in new York state, as a whole, and yet people are all claiming that their woke or awake, but how can that be possible, perhaps inapparence as awake, but unconscious of the reality of things right in front of their faces, makes them unconscious, and in the past time sense of mind, it's not the 80s anymore, fantasy island is not new York state, welcome back to reality, it's crimes all the time, it's a death sentence to live there, criminals are innocent until proven guilty, landlord's are lagiterment by all standards of the law's of the state department, thanks for sharing your knowledgeable comment with me,

[@nakiahowe368]

That is insane. I though NYC had charter schools and school choice.

[@chadeburwell1128]

Thank God my mother's brownstone in Brooklyn is paid off and we just paid the taxes we left New York in 2009 or 10 and it's a shame because this is what you people voted for you voted for biden and he said that he was going to raise the taxes and now everybody's complaining you need to deal with it you need to suck it up that's what you voted for.

[@pearla4731]

That is ridiculous. You can spend half as much renting a 3+3 in Beverly Hills.

[@ddalgeexD]

The landlords don't even maintain the buildings anyway 😂 they're blaming COVID for not being able to fix things so why is rent going up? Smh

[@Squeeky-Da-Don]

Government doesn’t do any better either. Just asked the residents of nycha

[@dcg590]

Because you squatters didn’t pay for 2 years. Would you work for free for 2 years? You expect all these things that cost money but have had a free ride off of someone else’s back for months and months. Landlords are owed

[@Randoldiaz]

You still have to earn 40x the rent to afford that. That's an income of 380k a year or 190k split in two. If you can afford that you would buy a home instead. Who makes that much and would rent?

[@BrandonBooks]

Buying a house in the city requires a sacrifice in location (have to purchase a home outside of the city with a longer commute) most people that earn a lot in the city are paying for convenience.

[@cherubin89k]

Agree you should not be spending more than 20% of your income on renting

[@marialuna7452]

The drug dealers can afford it!

[@Randoldiaz]

@@BrandonBooks you can buy a co-op in a luxury building a block away from that apartment for less than what they are asking for. My question is who would rent for over 9k a month when you can buy?

[@chapter1762]

@@Randoldiaz for most coop , u have to meet with board member with interview to see if u fit inside the building. Coop is much more strict with income requirement than condominium. That's why people don't like coop

[@adrianrivera8366]

Shorty said people willing to pay $9500 for a one bed room. Cocaine is hell of a drug ( Rick James voice)

[@shreddersaurusrex323]

That’s just insane.

[@yungReparations]

It’s because of the gentrifiers. So thirsty to live in nyc and paying high cost just because they have it. If everyone refuses to pay, the price comes down.

[@fbafoundationalbuck-broken6011]

YOU GOT THAT RIGHT.

[@danlora5599]

Wow that guy Vito basically sounds cold. I wonder if he would have same attitude if he lost his job or got hurt and couldn't work for a bit. Not your responsibility? We are not talking about small increases which is understandable. This is extortion

[@Generalcyb0rg]

9500 a month for a 2 bedroom is special ed prices. Who ever pays that is a fool.

[@TripzReview]

With the amount of crime on the subway & not to mention streets this city main focus is raising the rent instead of figuring out a way to slow down crime

[@monicavidal850]

I agreed 👍

[@sct4040]

Taxes, rent, water, gas, electric, insurance are all too high in NYC. My Co-Op took my tax abatement this year to fund operations. For those without the tax abatement, it’s an extra $1k this month. Ouch! Thank goodness I bought instead of renting. I can’t afford to rent .

[@drkimoni5011]

9500 a month ! who the fuck paying that ?

[@Dirtymoney8]

'With $9,500 a mortgage can be be paid on a 2,500sq home with 4br 3bath in SC for 4-5 months and still have 1-2k left over and you dont have to worry about sleeping in your car because you cant find a parking spot

[@nymelemorgan8074]

I went to the supermarket the other day and was planning to spend only $90 on food I got to the line to pay for my groceries and I had to put somethings back because it came up to $120 it was around 5 items that was around $89 I'm like what in the world

[@ksowavy]

U were at Whole Foods ⁉️

[@nymelemorgan8074]

@@ksowavy yes crazy isn't it

[@nymelemorgan8074]

@Syed Mahfuz I understand what they are saying but inflation isn't a joke

[@itsnoturbizness]

Income insecure tenants 🤨 these people want you to work 5 jobs in order to pay rent

[@LPAFilm]

Don't complain! Pull yourself up by the BOOTSTRAPS!

[@itsnoturbizness]

@@LPAFilm what type of weirdo are you seriously. Just say you want to be a slave to the massess

[@LPAFilm]

@@itsnoturbizness It was sarcasm *eye roll*

[@MissCane9]

@@LPAFilm But it could've been an agent. You know how vapid they are.

[@Revengex19999]

landlords in nyc are making record profits

[@rashadvaughan3895]

Everything keep going up, food, gas, rent but the only thing not going up is jobs paying more money. This world is a set up for people not to survive

[@Eshabee]

Only rich ppl survive

[@rashadvaughan3895]

@@Eshabee Yeah that's the way it seems. Hopefully one day that change

[@joeherrera8826]

Cmon if a person is making enough money to pay 9000 or 6000 dollars in rent they can might as well buy a house or condo. That's like paying rent for for a commercial space.

[@Cerave-eo8pu]

You make 45,000 a year and end up with a rent of 2,000-3,500 or more. How are people going to pay those ranges of rent with a salary like this. Do these landlords not think people need to eat, pay other bills, student loans at many times. No wonder homelessness has increased and they ask why. Now you have to live with roommates or live with family members in order to make rent.

[@777sweet]

Other people with their tribal cultures do that. They think Americans should do that do that too. 10 people in a 2 bedroom apartment. Grown men sleeping with kids on the bed. All of that are fire hazards.

[@dcg590]

Or live somewhere else

[@tx1510]

Born and raised in NYC and I cannot wait to leave this dumpster city.

[@hdjksa52]

$9,500/month for a 2 bedroom apartment. That's why I left NYC. That's a mortgage.

[@Gigilovehugs]

That’s not a mortgage for a decent house more like closing cost in a 300,000 house

[@lilyouyou]

Man, I don’t know much about buying a house but $9,500 sure does sounds like it would be a decent down payment on a nice little house you wanna purchase. Correct me if I’m wrong.

[@annieothername]

If only that money wasn’t going to a landlord. With such a high cost to live, many cant begin (properly) saving for that down payment.

[@777sweet]

That’s basically a mansion money with pool. WTF are they crazy???? 9000 for that! She’s talking as if it’s on. I want to know who’s renting and what they do for a living. Are these asylum people WE TAX PAYERS ARE PAYING FOR TOO? These people are getting free rent like like section 8 people. They need to revamp that as well. Teachers, firemen, MTA workers, hospitals workers, EMT , police officers, corrections officers $50,000 and up. Even doctors are complaining.

[@only1adrienne]

@@777sweet Broker here. $9,500/month is approximately a $2M mortgage. Yes that will buy you a mansion anywhere in this country. New Yorkers sometimes pay that to get their children zoned in high performing public schools. Sounds crazy but I’ve had many clients do this, especially in Tribeca and the Upper East Side. They also do that if they aren’t sure they will be in New York long term and don’t want to set down roots here.

[@Usrnamntfund]

If you got $ to pay almost $10k for a shitty apt in nyc, u definitely have money for a mansion elsewhere

[@dawnlee866]

I agree

[@ryandarko2115]

Higher? You mean unaffordable lol

[@IsaiahCarroll95]

I own 5 properties in NYC and This is bigger than renters vs landlords... It's the property taxes, water, gas, insurance. A lot of these landlords aren't raising their rent for the sake of being mean/greedy (Yes a handful of them are just greedy). It's the state and city that have raised taxes with gas and water being more expensive and a lot of that falls on the occupants in the property. A lot of native NYC property owners aren't millionaires trying to make an excess living off of their tenants. Some us owners cut as many corners as we can without feeling like we are shooting are tenants in the foot. We need to start pointing the finger at the government.

[@lm7913]

Then maybe the landlords need to come together and protest against the city…

[@a.m.7910]

@@lm7913 that shit isn’t gunna work..

[@vandarkholme7759]

@@lm7913 they dont have to. They can just pass the cost to the less well off

[@fbafoundationalbuck-broken6011]

YOU WOULDN'T BE A LANDLORD IF YOU WERE NOT GREEDY.

[@---Joy---]

@ Isaiah Carroll Ty for the explanation. It's an unfortunate situation nationwide. So happy to be a homeowner.

[@jbadlit]

They need to raise the minimum wage to $20-$25 a hour with all these price hike.

[@ksowavy]

Inflation will make the increasing of minimum wage useless ‼️

[@jeffreymoore7648]

Minimum wage needs to be $30 at the least; based on a 40 hour workweek that's what the country needs if we are a consumer driven economy.

[@mkhanman12345]

Harder to afford your yacht? Time to share

[@777sweet]

Raising Minimum wage isn’t going to help either. People who are making higher income still can’t keep up. They be acting like everyone wants to live on top of each other and live with roommates. I hate how these elites think! Not everyone wants to live with others. Look out for the influx of people from the boarders and these asylum because government is helping them which spikes up rent.

[@asibaparker3207]

The more you make the more you have to pay in taxes and if the pay goes up everything else is too

[@Mrg0ldeneye]

God I miss 80s/90s NYC…..

[@bk10200]

I was there. Golden era.

[@blakebortles6098]

The whole nation is going to collapse

[@kinggadm1234]

Good times.

[@kevinsouza7744]

Ah yes, the crack era. Loved it.

[@blakebortles6098]

@@kevinsouza7744 hope you quit that's an unhealthy habit

[@shonroyale5135]

If you could see the conditions of these buildings here in the bronx its outrageous paying wht we pay then to spike the rent ,its horrible, winter with no heat roof leak with heavy rain no hot water disgusting hallways which get swept and mopped 1nce a month if lucky this is crazy for people struggling to pay rent in horrible conditions

[@moe9587]

$9000 a month for a depressing 2 bedroom in a crime ridden city , where traffic is a nightmare all day. Have these people let money and greed blind them so , that they’ve gone absolutely mad ?

[@sweets7691]

The fee is NOT WORTH IT! NYC is not worth it‼️

[@tracymorgan5386]

Where is Adams in all this. Deblasio was able to keep the rents from getting too high, Adams has kept his mouth shut.

[@billh.1940]

Adams is in the RE business himself, when asked to show his taxes he refused! All other mayor's did show them. Next year the landlords will charge rent to homeless who live in front of their buildings or on block, it will be legal to take change from them or shoot!

[@MissCane9]

He's a wuss

[@imacyclepath440]

Do the tenants not realize that the landlord’s expenses are going up as well? They are not the government. They can’t subsidize your housing. They have bills to pay as well. You don’t tell the pizza guy I won’t buy this slice because it’s 50 cents more. Same goes with your landlord. Everything costs more, including your rent.

[@k29king1]

Of course landlords want them higher. Landlords in this city are some of the greediest landlords in the country, and this kind of greed is fostered and cultivated throughput the city. Every mayor has promised to address out of control rents yet none have ever followed through on their promises. I know one thing that could instantly drop rents, Tax breaks. If landlords were presented with the option of monetary tax breaks based on size and location to keep a lower rent rate they would, yet the city itself is also greedy as hell when it comes to taxes. It’s a systemic problem that needs a systematic takedown.

[@kinggadm1234]

Abatement did not work in lowering rents

[@k29king1]

@@kinggadm1234 this is not the same thing. A structured “tax holiday”, or “tax decrease” for keeping rents below a certain percentage for the benefit of housing needs has not happened in NYC. Yes there were/are programs for Landlords to offer rent stabilized apartments for a tax break, but this is in a limited sense and only certain kinds of buildings qualify for this. What I’m talking about is an across the board program, and has never been done in NYC. It has been done in other cities with success and it should be done here.

[@kinggadm1234]

@@k29king1 i believe it should be based on zoning. You are correct.

[@samthepoet107]

The current mayor is a landlord in Bedford Stuyvesant. The only thing that drops rent fast is high crime. When crime becomes like big mosquitoes biting people they will pick up and leave those who can. Then when apartments are empty landlords will drop their rents except those who rent commercial spaces often prefer to leave them empty then offer leases with cut-market values.

[@kinggadm1234]

@@samthepoet107 correct. Rents in most outer borough communities have stayed stagnant or dropped a bit. Ny numbers are skewed bc of Manhattan until about 116th street on the east and 125 on the west

[@feleciagmiller872]

All these landlords are evil. They want higher rent but they don't make necessary improvements.

[@kayflip2233]

I own my own 1 br co-op apartment on the UWS and have been paying just the co-op fee of $600-$700 for the last 10 years or so. Barely goes up. One of the advantages of owning in NYC.

[@MrPrentissDJones]

You know what’s crazy is that rents are going up but people are leaving the city in droves. A lot of people have left, so it makes no sense to see a spike in rental prices. If this was Arizona, Florida, Colorado, Texas and then it would make sense to see a spike in rental pricing.

[@sallyclay1974]

Dont blame the landlords. U can blame gentrification and greedy corporations for rent spikes. It's disgusting all over the US.

[@fbafoundationalbuck-broken6011]

DON'T BLAME THE PARASITES SUCKING PEOPLE DRY, COME UP WITH CONSPIRACY THEORIES.

[@kevingarris198]

A veiled pejorative: "income insecure tenant" Translation - you're worthless, raise your value and earn more!

[@icetoocold0428]

😂😂😂😂😂😂😂 How long has that apt been empty? Nobody is not paying more then 2k for rent.

[@Bdpjev]

property taxes are very expensive. nyc politicians aren't giving new yorkers the whole story as to why rents are so expensive in ny. these politicians are making it very hard to stay in businesses in ny

[@jay-t1030]

We need rent control on a federal level.

[@joyaustin6581]

When you own it gives you a perspective on how expensive maintenance is. When you rent you get spoiled. I fussed when water was turn off after pipes burst and nails left over after roof was replaced. I wasn’t seeing how plumbers are charging 100-110 per hour or a roof costs thousands. I wasn’t seeing the new furnace was the equivalent of 9-10 months of rent. I wasn’t seeing the property tax increase and insurance increase

[@dcg590]

Move to a socialist country then.

[@Tony-hx2fj]

that is nothing, it goes up for landlords. and to maintain these buildings. cost a fortune. 10% increase is nothing compared to what landlords costs are. People need to be responsible for themselves. save for your own future, not rely on landlord to subsidize your lifestyle. cars, cloths, gas, internet, utilities, repair costs have all gone up for landlords. move to where you could afford, check out Youngstown, Ohio for a nice fixer upper you could get into cheap

[@aquari_2344]

I love how the landlord rep just goes "yeah we literally dont give a shit about the tenants, its not our problem" but whenever people say we shouldnt have landlords they act all benevolent.

[@juelzbenson601]

They’re delusional they better start maintaining their property a little better before considering rent hikes some of these landlords are slumlords

[@concernedcitizen7781]

During pandemic I paid rent faithfully and now I feel punished. I cannot afford rent anywhere.

[@Journeywithmscohen]

$9500 a month is a rip off for the quality of living you're getting. How about a 4000 plus sq foot home, 3 car garage, gated community, clubhouse with pool, and landscapers...NOW that's worth $9500 monthly.

[@youngblisslife4308]

I replayed her 4 times to make sure I was hearing her right...$9500 a month???😵

[@dunny2210]

Not true. I want the costs to go lower such as property taxes, insurance premiums, water rates, electricity rates, heating bills, costs of repairs and maintenance, mortgage payments, etc. These are the things that are eating up the rents.

[@highlymedicated2438]

I live in the upper west side and this place is getting more and more abandoned I've never seen it this bad here in all my 42 years

[@zsuschukytos4219]

Gosh i just love the comment section. Finally people are thinking and saying no to these rich people ridiculous demands. Good job guys, if we all unionize and don’t rent their apartments. Even 3000$ will be enough for them.

[@DRAKKENFIRE22]

Anytime the government subsidizes a business, the business will eventually increase prices to get more taxpayers’ dollars. That’s why college is so insanely expensive. Anytime the government tries to artificially influence the market, it makes things worse. That’s why it is so important to listen to a politician’s policy and consider the consequences. Anytime they talk about spending millions of dollars to fix something, be extremely cautious and ask detailed questions.

[@PhenoMikal-Onion]

The government is on the landlords side!. It’s going to get worse nationwide not just nyc.

[@gbb5642]

Not on the mom and pop landlord side

[@lawrenceoscar8191]

I'm going to leave NYC.

[@Glowsaphinebaker]

That 9500 apartment looks like the Marcy projects on the outside lol

[@gbb5642]

Lol

[@HarmonixsLoL]

It's not just renters who are frustrated, landlords are too. Property taxes, insurance and other expenses all trickle down to renters. All these taxes and we're not really seeing the money being put to good use in the city.

[@b.b.s7545]

Billionaires and millionaires not paying taxes and corrupted government officials pocketing money or overpaid board members

[@MissCane9]

Most of this is just greed.

[@DimaRakesah]

Boo fucking hoo. What you really mean is that landlords want to preserve a high profit at the expense of people who need housing and will use any excuse to raise rents. We're not fucking stupid. We know what you're doing.

[@casienwhey]

This report totally misses the point. It's not that prices of everything are going up, it's that the value of your dollars are going down.

[@onlysayingtheobvious6006]

Jesus they are try to raise the rent for a city that’s pretty much gangland and depressing , the fact that new York thinks it’s worth the high price of living is ridiculous the building that realtor said was originally was 6,000 is insane it looks like it’s in the hood or something idk they need to fix their standards of pricing

[@Jorr235]

The problem in NYC is (1) Rent control allowed little old ladies to live in their 9 room duplex apartments for 50 years at $1,000 a month and and illegally passed the lease on to their grandkids who may not even live there there thereby lowering inventory in the city so an apartment in the same building on the market has to rent for $30,000 to cover a landlord’s carrying cost. Plus, like other major cities, there is so much foreign and dirty money used to buy apartments that are never lived in.

[@samthepoet107]

But how many apartments are rent controlled? Most are not. Ed Koch, when he was mayor, still maintained his rent-controlled apartment in the West Village. The city council controls real estate taxes. They need to tax super rich people more than the landlords.

[@MattSezer]

@@samthepoet107 Only Ike 1% are rent controlled, but close to half are rent-stabilized. They need to eliminate it all and then pass the good cause eviction bill. It makes no sense to decide completely arbitrarily what units landlords can raise the rent on and which ones they can’t. It’d be better to just have a universal system.

[@samthepoet107]

@@MattSezer you sound like you live in Utopia. NYC is a right-to-shelter city. That means if you are evicted the city government has to put you in a shelter. The rents they charge now many can't afford it. In order to run this city and supply workers to different industries people need a place to live that they can report to work from. Your idea would create calamity. Right now people who moved here and got a good deal during the pandemic are now forced to move back to their states because their income is not enough to pay the rent. Charging someone $3,500 for an apartment in Bushwick is greed. That's a working class neighborhood. However there are people who moved to the city from other states who can afford that rent. But most people who live in that area or grew up there can't. When those tenants leave there will be empty apartments. Landlords will be forced to drop their rents.

[@anabelsanchez4605]

I’m here for the comments.

[@kennysa3586]

I live in rent stabilized also. So far Im using the %9 interest in $10k govt bond to counteract the rent increase. But if it goes any higher , I will have to move back to moms house

[@MrZakatista]

9%, where are you getting that??

[@igneousrocklad]

“mOvE sOmEwHeRe ElSe” Ok… if all the working class people moved out of NYC then it wouldn’t be NYC. The city moves because of its residents. This isn’t some random midwestern town.

[@yellowpanda3972]

I can see why everyone is leaving NYC. This isn't normal.

[@sking3646]

Many Tenants took advantage of Landlords during the Eviction Moratorium that the Moratorium is expired...the Landlords are taking advantage of the situation. There is a famous saying... What goes around, comes around.

[@mistermilkman]

Not as many tenants benefited from that moratorium as u think. Many people didn't receive money either. Much of the money that was supposed 2 go 2 unpaid rent never made it there. The real question is, what is the government going 2 do with that surplus?

[@fbafoundationalbuck-broken6011]

HOW DOES ONE TAKE ADVANTAGE OF PARASITES KNOWN AS LANDLORDS.

[@bbqueen93]

WHaT GoEs ArOuNd cOmEs ArOuNd

[@lm7913]

9,500 a month???? let’s not forget security deposit and first months rent… NY is over rated and compared to other states, residential living is underdeveloped. Not to mention transportation has gotten worst through the years… the hell with those dead beat landlords.. NY is just a good city to visit in the summer. Outside of that there’s nothing here. ✌🏽

[@cressfionajames]

I've realized owning is the best thing to do. People need to look in NJ or Pennsylvania.

[@elanamccullum1677]

Well even property taxes are soaring..so that's an issue too..

[@Melbester9]

@@elanamccullum1677 Yeah but that's nothing though. Long run, owning a home will go farther than renting an apartment. That's just common sense. You don't gotta worry about rent hikes and such with your own house. Plus as long as you're working, etc, youre fine

[@ericthedumbmet4699]

Literally might be the only way to even be near NYC in the future.

[@jusliving7977]

It's called fair market value. To have a land owner supplement a person's inability to pay fair market value is ridiculous. No one lowers the taxes & mortgage for the property owner. If you can't afford it you have to relocate. I did it without complaint. Leaving NYC l was able to purchase my own land increase my net worth and build an estate to pass on to family upon my expiration. I wasn't going to pay insane rent and have someone else build their wealth off my sweat.

[@Usrnamntfund]

RAISING WHAT?!😂 with all this crime goin on ppl wanna raise rent as if it’s some luxury to be here😂

[@MissCane9]

Luxury left. Anyone who thinks NYC was ANYTHING like it was is a sucker.

[@mdavis3262]

This is ridiculous…these landlords are sucking tenants dry

[@MrMlbfan6]

I remember telling people in my old job the city is gonna push the poor out of the city . An the richer into Bronx etc

[@check25bid]

9,500/month for a 2 bedroom , 1 bathroom. Boggles the mind if people are willing to pay that much.

[@user-gu6vf3je1d]

This is the outcome of selling real estate too high…now owners are not making any profits. They’re lying. There are no bidding wars to pay these increases. They’re kicking out tenants to do short term leasing and air B and B.

[@MissCane9]

Exactly!

[@Vision-nr8zy]

What do the jobs pay in NY 9500 for rent who has that kind of money my goodness

[@orangecat5036]

I've been in NYC 46 year's and still haven't figured that out.

[@dianalord5825]

Media jobs!

[@metrocard3758]

So let me get this straight ? Nobody understand that this is a perfect storm for a violent violent years to come for nyc ?

[@glenmoreingram6752]

Greed has destroyed your city, dummy's.

[@_PAIGE94]

I wouldn’t pay $6,000 or $9,500 for any 2 bedroom. Pfft 😒

[@mecthegreat92]

Imagine if the residential leases were capped at 33.33% of the average income in NYC.

[@humanoidphenomnon6754]

At 33.33% you're landlord becomes the federal government, and you're apartment becomes a subsidized project.

[@anthonyhuber-permanentlyre7808]

*Have you not learned anything in the past 2 years?* When Government gets involved, they make the situation worse. The Landlords will only rent to the super wealthy, because 33% of $500,000 is profitable, but 33% of $36,000 is not.

[@mecthegreat92]

Housing should only be a third of expenses.

[@anthonyhuber-permanentlyre7808]

@@mecthegreat92 *Why does it need to be 33% ?* Why not 10%? Why not just 5%? Who gets to choose this arbitrary 33%?

[@mecthegreat92]

@@anthonyhuber-permanentlyre7808 I was saying the cap should be set so it can't any higher than 33%

[@ricnyc2759]

We should leave the city and let landlords rent their properties to other landlords.

[@morrislevine9591]

How is the people who have low income can afford the rents in nyc

[@seventhchild7270]

That's ridiculous!...9500.00 a month!...I'm renting by choice, in an 850 square feet, 1 bedroom apartment, updated, well maintained, small apartment complex in a nice COUNTY in MARYLAND and I pay about 1350.00 A month!...But the average cost is 1450 to 1500..1 bedroom and 1500 to 1750..2 bedroom...950 square feet!...with a swimming pool, small park with grills, gazebo, lots of various trees, flowers, etc., there's only 6 apts to a building..nice, quiet, clean and well maintained, surrounded by homeowners!...VERY quaint with benches and lamp post, and laundry rooms in each building and personal storage, personalized parking space!......I've been here 12 years going on 13 years...MOST of the tenants have resided here from 5 years to almost 30 years!...VERY diverse, hard working, some retired tenants!

[@driversseat1707]

People living in the housing projects are paying as low $500 for a 3 bedroom apartment

[@mylifeintexas]

She nailed that right at the end. People are willing to pay for it.

[@sct4040]

7-9% for a 2 year lease? That’s so wrong.