4 ms·
Why is rent stabilization bad? All it does is stop the rent from going up too much while you are living there. I wouldn't want to be a tenant without it - who
by ectoplasm 11y ago
Why is rent stabilization bad? All it does is stop the rent from going up too much while you are living there. I wouldn't want to be a tenant without it - who wants to be forced to move because the rent went up by too much? As soon as you leave, the landlord can sign a new lease at whatever rent they like. That is distinct from "rent control" in NYC, which caps rents and is a much stronger measure, but only applies to tenants living in the same place since July 1st 1971, or March 31 1953 if it's an apartment in a 1 or 2 family home.
https://en.wikipedia.org/wiki/Rent_control_in_New_York https://en.wikipedia.org/wiki/Rent_control_in_New_York
- asquabventured 11y ago>Why is rent stabilization bad? It means that you've removed the incentive owners typically have to keep the place looking nice, repairing damages, etc. Why invest anything if you know your rate of return will be low or negative? I know liberals like to try to make unicorns exist but economics cuts through most of the lies and bullshit of politics.
- ectoplasm 11y agoOh, I don't live in NYC, but we have rent stabilization here and the landlord is allowed to increase the rent by a percentage of the current rent plus a percentage of the amount spent on repairs and renovations. If NYC doesn't compensate landlords for repairs, which in turn means they don't want to do them, I agree that is horrible.
- danharaj 11y ago> I know liberals like to try to make unicorns exist but economics cuts through most of the lies and bullshit of politics. The irony of advocating for a liberal housing market, then turning around and claiming that this is not only apolitical, but also politically opposed by liberals, is delicious.