4 ms·
Two issues: (1) Subletting by a rent-controlled tenant to a sub-tenant, for a profit and without the consent of the landlord. (2) “Giving” a rent-controlled a
by bdowling 3y ago
Two issues:
(1) Subletting by a rent-controlled tenant to a sub-tenant, for a profit and without the consent of the landlord.
(2) “Giving” a rent-controlled apartment to a friend or family member, without the consent of the landlord.
A rent-controlled apartment that a tenant has held for 20+ years and is renting at a small fraction of the market rate is a valuable asset that some tenants want to capitalize on.
- olalonde 3y agoBingo. I think that's exactly what tenants are really worried about. The "racist gentrifiers" narrative just doesn't hold up.
- oatsandfieldso 3y ago[flagged]
- ocrow 3y agoIt doesn't even require that the tenant be trying to "capitalize". Perhaps they are subletting for a few weeks, or just having friends stay over on the regular. If that is disallowed by the lease agreement, it's enough for the landlord to begin an eviction proceeding.
- jobs_throwaway 3y agoYeah, this is a huge thing here. I have some friends moving into one of their great-uncle's 3-bedroom apartment in the West Village that is rent controlled at < 1/3 the market price. They've been scheming it for literally years. Its great for them but terrible for the market at large, and we'd be better off as a society if these things didn't happen.
- bdowling 3y agoOne more issue: (3) Tenants holding onto apartments that they no longer live in.