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From the records on Zillow, assuming they owned the unit free and clear, the landlord was likely losing money at the current rent: it's less than the current ta
by WalterSear 12y ago
From the records on Zillow, assuming they owned the unit free and clear, the landlord was likely losing money at the current rent: it's less than the current taxes on the unit.
Should they have been forced to continue to rent the unit out at a loss?
- cowsandmilk 12y agoZillow has property taxes at $11,043/year The tenant was paying $2,145/month = $25,470/year. According to the letter, they forced out another tenant. IF that tenant was paying a similar amount, the landlord was making >4x taxes in rent, not less than the current taxes. Also, the current owners bought the property on 12/30/2014. Why should anyone have sympathy for them having tenants? They knew they were buying a rent-controlled building. They aren't some owners for the past 30 years being held victim to tenants who won't move out.
- cowsandmilk 12y agocorrection to myself on "buying", it appears the previous owner was "SHUKRY & VERA LAMA RVC LVG TR" and the new owner is "LAMA NADIA V", so it probably was an inheritance, not a purchase.
- cthalupa 12y agoIf you read the facebook post, it claims they transferred the house from one couple to a sibling as part of the process that allowed them to increase rent.