The Market

Twentysomething renters would bear brunt of rent regulation change

By Margot Slade | March 22, 2011 - 10:10AM 

Some tenant groups want to raise the $2,000 threshold for deregulating rent-stabilized and rent-controlled apartments, and now even a landlord group is said to be open to an increase, reports the Wall Street Journal. But extending protections for rent-regulated tenants spells trouble for market-rate renters, according to a landlord who posted this comment to the Journal story:

"If the $2,000 limit is increased, I will have to go through my buildings with a fine-tooth comb looking for every illegal subletter and profiteer. I will be unforgiving on rent increases to market rent tenants, and they will be forced to pay an even greater percentage of my expenses. The brunt of these new proposed regulations would be born by the 20-somethings. Please don't force my hand. My market-rate tenants pay way more than their fair share of my expenses."        

(WallStreetJournal.com; CurbedNY.com)                                                                                         

 

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