Landlords warn NYC is on the 'brink of catastrophe'
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- Опубликовано: 27 окт 2020
- Landlords are often seen as the bad guys, the people you have to pay on time every month.
But just like tenants, many of them say they've been struggling to make ends meet during the coronavirus pandemic -- and they believe the city is on the brink of catastrophe.
While we've heard from people who have moved from New York City to places across the country, at least temporarily, during the pandemic, 7 On Your Side Investigates spoke with some of the small landlords left behind.
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I'm a landlord with a single condo in Ft Lauderdale and my tenant had her hours cut significantly. My wife and I made the decision to cut her rent by 25%, i'd rather help a good tenant stay than have an empty unit and stress out a single mom and her son.
just wait it out as long as you can, good luck man
My landlord in Daytona said his taxes went up so he needs to raise my rent exorbitantly. Says I'm the ideal tenant but...He knows full well, that I have no car to look for a new place, that we're in the middle of a pandemic, that I'm elderly with underlying conditions, that I have a lousy VA pension, that it would cost over $3000 to move. He claims he's a Christian, pfftt! Wish I had a landlord like you. Wish everyone was like you.
VERY KIND and thoughtful
"They should have saved for a rainy day", cause that's exactly what my landlord said to me, when I told him I lost my job due covid.
Lol!
Wow... Was that A hole really that inconsiderate? Sorry to hear that.
I bet you your landlord is probably eating his words.
Wow how heartless of them
then when the landlord can't pay the mortgage, that's what the banks gonna tell them.
when the banks can't pay their debts, the Fed is gonna tell them "don't worry, you don't need a rainy day fund, we got you covered."
I feel your pain, but we are all pretty much on the bottom of this financial food chain.
Almost everyone I work
with has moved out of NYC.
Too many Cons over Pros.
Isn’t that the plan? Create the problem then step in and take everything
And what is Trump's business? Yes re estate
Yes that's their plan.
Never thought of that,but it sounds like something Trump would do,as we know how much he loves New York
@E-rocks' DaughterXOXO Takes one to know one.
Yea... Republicans have mastered this. A great example is “defund the post office and then let’s complain about how broken it is”...
Sooooo when they were gentrifying the area and taking homes from little old ladies, they felt nothing. Now we're supposed to feel sorry for rich people? I feel nothing. We are all feeling this. Pull yourself up by your bootstraps.
and they’re still too stubborn to reduce rental prices. Karma is a b****
Exactly! With the money these folks have made over the years, they should be able to withstand this storm.
💯💯👍🏽👍🏽👍🏽👍🏽👍🏽
Well said
exactly!!!!
Maybe stop charging $4000 a month for a 1 bedroom in Harlem and you'll get tenants
Same over here in LA lol 3,600 a month for a 1 bedroom in the hood. Gtfoh lol
Well that’s what happens when a certain group of people move in and “gentrify” the neighborhood.
@@DavidBryant yeah Mexicans. I’m not talking about echo park I’m talking about south central where there are no white people and historic black neighborhoods are turning Hispanic due to illegal immigrants. And who are you to say what race should live there? Another liberal racist i see
Who’s paying that? I pay $2300 for a huge 1BR with a terrace in a doorman building in Central Harlem and I moved in less than two years ago.
@@jaimeinthaclouds11chuck98 sorry, you’ve said nothing of substance. Stop typing faster than you think. Your fake paradigm of left vs right doesn’t work over here.
Well, the table has turned. I bet, even with all this depression, that she STILL wouldnt rent me a cheap room. Good luck landlords
Yep, wanting to keep that high price tag. Time for landlords to humble themselves and rent to the people they used to turn down.
I just commented the same thing. Well said guys! 👍🏼👍🏼👍🏼
"Divide and conquer" attitude! Planned by the govtmt! Tenants and Landlords should direct their hostility at the government. And one party is no better than the other! Dems and Reps are just taking turns "sticking" it to the little people!
At one time they didn't care 2000.00 for this. Amen I went to Jacksonville Florida I love it. Hell with NYC.
@@flyscdiva You don't seem to have an understanding about how much contractor's charge! Repiping a home with copper pipe has more than doubled in 15 years. Some properties have gone up several hundred thousand dollars in just 5 years which goes into property taxes. "Humble"? It's not about humility.
They wouldn’t have this issue if the Rents in NYC where more affordable. I hope more ppl move
Yes,hiking the rents at every opportunity and taking a third to a half of working people's income,I know there are a few fair landlords but it's hard to weep for people who find themselves in a position they've pushed other people into in the past
That's why you vote red and that's why people who leaves NY and California go to red states.
Democrats love raising taxes on the middle class and then they funnel the money to their friends. Smh
And if that happened, businesses will leave and there will be no jobs.
And the city will go under.
The entire economy is connected - how do people not understand these basics.
You hit the Nail on the Head.
Stop charging $2000 a month for a studio apt that’s a start
That's what i said
$2000 for a studio? LOL....you must not be from NY. You can't even rent a room for that amount, much less a studio apartment.
a stop calling a chopped up studio a 1 bed with a bonus.
@@bbmarcy for a studio yea.. but 2200$ for a studio in manhattan is not possible.. maybe in queens, or the bronx,, BK mayyyybeee.. idk where u been
@@bbmarcy Where? Definitely not anywhere south of 110th Street.
maybe they shouldn't charge 2000+ a month for 450 square feet in a building that hasn't been updated in decades
2000? LOL where? In the bronx? More like 3500$ PLUS
Some people love NY so much, they'll pay for POS looking apts 🤔
Property taxes are also high so it is a double edged sword. While it is likely ultra wealthy folks will do major land grabs in the failing cities, I am kind of hoping the deflation trend continues for a while. Prices are dropping and that is great news even if opportunities are currently scarce.
EXACTLY
Or maybe just don't live there. I dont understand people paying mortgage prices on a broom closet. I guess yall do anything to live in chaotic NYC.
god those apartments look like prisons you cant even breathe and just have one window to look outside... NYC really made em like that....
One window facing a wall with sunlight coming from a tiny 2-1/2 foot space from the 6th floor opening.
Yep
Didn't DeBlasio previously say he wanted to buy up vacated properties on the cheap to house the homeless? Sounds like this is going according to plan.
The tenants that was willing to pay the $4000 a month have left the state... But real New Yorkers know the value of the apartments and we will not pay $4000 to live in Harlem.. We would just buy a house with our A1 credit.
100%
Or get a co signer if anything 💯🗣
What ever happened to the urban renewal of Harlem for Harlemites? Harlem residents got jacked in the name of their ' quality of life '.
They're should buy those houses once they lose them lol
I’d be shocked if anyone was paying 4K a month for that tenement. I live in Central Harlem and pay 1/2 of that for a completely refurbished 1BR with a Terrace..and I just moved in 2 years ago at the height of price gouging. Rent stabilized too with a doorman.
Wat $3400 for a studio? Construction everywhere. Nyc is so garbage.
The real victims are the tenants being overcharged for years to live in their nasty building in a garbage dump city.
@@StarLight-sl9ok exactly
The greatest city in the world, bar none.
@Mark Prowatzke it's better than where you live. yes, DeBlasio sucks but the city is great.
@@nasdaqua Not after Cuomo is done with it!
Don't worry, when they all go out of business, Amazon will buy them all up.
We’re literally waiting for the collapse so we can buy cheap
nah these millionaires will take advantage of these small landlords and make our housing prices even more expensive. you're not seeing the bigger picture lmao
You and Detroiters arr waitin.
Same here. Bought for pennies on the dollar in 2007&2008.
You voted for the people that are doing this. These are the people you elected, you get what you deserve. Go talk to the Mayor.
Guess what, they keep re-electing them. Democrat voters are just so blind and stupid.
They voted for the pandemic??
Did they vote for them? I think the amount of corruption and fraud in the voting system being shown to the public during this election season shows that elections may have been stolen for years and years. Certainly the NY Governor and the NYC Mayor are EXTREMELY suspect in their rise to the thrones they each sit on. I don't see much "will of the people" going on in NY.
@@markchapmon8670 please provide proof of voter fraud
@@chetgravatt9562 exactly those Democrats are just like the Genaration Z people.... only talk about emotions
I'm sorry I'm not crying for anyone some of these people mortgages are $3,000 a month and they charge $3,000 rent for shoe boxes some of them bought buildings with huge bedrooms bathrooms an eat-in kitchens and turn them into multiple Apartments with absolutely no space and wonder why people are leaving the city people are leaving New York City because it's a waste of money and space.
Your an idiot
I agree. You didn't cry when you were making money hand over fist so now the pendulum swings the other way...don't cry still. Go under then. I guarantee those buildings will be sold and when rents get back on, then things will continue like it never even happened. The country will not break. Just a lot of stuff changing hands. Nothing new.
Also, if you can't pay rent, at least move out so that you are not holding up the landlord from possibly collecting rent from someone who has downsized from something more expensive that they could no longer afford.
You DO have tenants. Ginormous rats,roaches and other vermon tenants had to live with while paying astronomically high rent prices for apartments painted 500 times over asbestos walls
You're an idiot.
They jacked the rent and were living good for many years! Should of saved instead of buying the Range Rover
Yup that's the curse of the upper middle class bro, they start feeling rich and forget they aren't lmaooo
Yep
1. Expensive
2. crime
That's enough to lose tenants
Don't buy the crime wave lies. There is not a newfound wave of crimes spreading. There has been a increase in homicide exclusively. Over a one year period, sitting at a rate 80% less than in tbe 90s. There were 150 more homicides in a city of over 8 million and other crimes categories actually fell. Also the addition homicides are oxxjing in areas that already saw higher numbers, not in areas that were mostly unexposed in the past. Whenever you hear politicians, media, police pushing a narrative like thst its best to take it with a grain of salt as they generally use the talking point as a tool
I don't feel sorry for any of these landlords, especially since they jacked up the rent to just for wealthy gentrifiers to live in a stupid box. I don't feel sorry for them at all. These greedy landlords chased out native New Yorkers with the high rent and now their rich clientele is gone. Not sad for them at all
Exactly
Landlords are not all ugly green monsters as you paint them. People who bought these places in recent years do not have huge margins. And if there is no business case to be made to buy a home or building and rent it, then the free market will start to bail and you will be at the whim of politicians trying to ignore the laws of economics. Good luck with that
Thats business.. shrugs. Move to another city thats affordable..maybe the suburbs.
@@sbostic08 That’s exactly what New Yorkers did and now the slumlords are whining *shrugs
@@josephjames335 Once again thats business. Hopefully landlords have a plan B or they're going to be up to their eyeballs in tax arrears.
Landlords are complaining about not being able to rent $5,000 a month one bedroom apartments in a city where the crime rate is up 90% ????
U mean $5000 for a studio lol
Democrats
@@PInk77W1 Democrats and Republicans suck this country is a lies “United states” not even united should just be called states of America
@@perrinmontenegro true but the Dems are 10x worse.
Giuliani was mayor of NYC
No riots.
Plenty of Jobs
De Blasio is Mayor of NYC
Riots and jobs gone
@@PInk77W1 the whole COUNTRY is worst with both they all the same! Lying politicians
Now they know how it feels to not make ends meet.
Ends Meet? Really?
A 35/65 point of view
Yup
You’re an idiot. If enough buildings default the entire economy of New York City will crumble. You probably live with your parents and have no concept of what that would mean.
I'm sure alot of them already did..
It’s time to start lowering the rents where people can work a minimum wage job and still afford to stay in their place everybody’s trying to get rich quick
My dear friend, have you considered that the reason rents are high is because of high taxes? Taxes, maintenance costs, and a mortgage will be really expensive. The landlord isn’t trying to pay this out of pocket so they have to put the costs on the renter.
@@mashedtomato2079 Yes very true. But if she has so many vacancies, cutting rent by half will bring in something to help. She is having to pay ALL for the empty units. Putting someone in who may can't afford $2800 but may be able to pay $1,400 or even $1000 will help. Holding out for people to pay market rate is clearly not working. Qualify renters as usual who make less money and can pay SOMETHING. Half a loaf of bread is better than no bread. She needs and want to rent and still be able to turn a profit etc. I totally understand that. But it ain't gonna happen no time soon. She better get smart and try anything to get some money coming in from anybody she can. Plenty of hardworking people can't pay $3000 a month bunking up with family cause rent too high.
@@flyscdiva EXACTLY
@@flyscdiva That's a fair point. Ofc it is better to have some rent coming in than none at all. However, I don't think many landlords have enough money coming in from other sources to pay through the expenses, especially small landlords. I.e., income from work or other investments. Plus, a lot of renters are currently not paying rent, and are protected from evictions(rightfully so in these times). This is not a good situation for either renters nor small landlords.
You do realize that nyc has a large population in a small location? So the apartments are more competitive, and smaller due to the mass amounts of people. They have to charge more to make money, or they lose money
Owning a rental is not everything it's cracked up to be.
@Tika Nguyen Tell that to her who is about to go bankrupt
@APoole APoole Uh...you know that De Blasio and his elite cronies would scoop up those properties then, right????
@@sjames304 Laughable. You sure it won't be aliens?
@@oldbatwit5102 Why wouldn't rich guys come in and buy up those properties on the cheap? Are you that dumb?
@Awaatif Tifloen almost looks planed.
I love how the mayor is telling people there's nothing they can do without federal help. How about putting a freeze on property taxes how about getting the utility companies to put a cap on how much they can charge right now. Neither one of those require federal approval.
freeze the free market, but they still want *their* money! new yorkers will vote these traitors and incompetent 'men' back in the next election cycle, so it's hard to feel too sympathetic. it just pisses my off that *my* federal money has to be to bail out these fools.
Deblasio is always crying for federal help its ridiculous its as if thats the only solution he can think of smh federal assistance and then what? its a repetitive cycle he has to actually find other solutions sheesh
@@HobbyOrganist They are getting taxed on income made 2 years ago in a year where there is no income. Did you actually watch the vid?
The funny part is that NYC contributes a huge amount of money to the federal government. I think only Los Angeles pays more and this is only when you are comparing it against Manhattan. If you combine the 5 boroughs, NYC pays about 5% of the nations income tax. Not to mention that these landlords have been getting greedy.
@@sebastienc.2257 I have some very close friends that used to live and work in New York City. When they would come back home to Maryland to visit they would tell me how expensive it is. To be honest with her I did not believe them. This was long before the internet. When I made a trip up there to see them that's when I got to see what they charged for cigarettes alcohol and rent. They had one of those free rental books that sits in a bin outside of stores. I picked one up and could not get over what it cost just for rent not including utilities.
I just hope that we can get things turned around and get back to normal. this absolutely is not a Democrat thing or a Republican thing this is an American thing. We need to get America back to normal.
Thank you my friend for making a comment and I hope you and your family have a great holiday.
Moved to New York in 2017. Was absolutely in love with the city and everything about it. 3 years later, everything changes and I don't think it will ever go back. Just crazy. RIP Empire City.
NYC always rebounds. C
They should have saved more than there life savings. What my landlord told me on Christmas day while putting up my eviction notice. God help us
I’m very sorry to hear that. Good luck to you🙏🏻
I’m sorry but after living in NYC and being one of those residents that moved out, I don’t feel bad for those landlords.
@pinkmoon I ended up going to Chicago.
@pinkmoon Honestly, as much as I enjoyed NYC, I can't justify being there right now ESPECIALLY when working remotely.
@pinkmoon I might consider it in another year or so.
@pinkmoon Good call. Wisconsin is nice.
No one is asking for your sympathy, Use your head for something besides a place to hang a hat.
Answrrt this....Just who do you think provides the lion's share of tax revenue which funds the municipal services and of course those precious and overly generous social safety nets?
Think real hard now.....If you said "business owners" you're a winner. Because it is well documented that business and property owners pay 80% of the total tax burden .....That's right. In the state of New York, the top 20% of all people in NY pay nearly 80% of all taxes. So, if the apartment building owners are pushed out, a tax vacuum is created. Yes, even if some other entity buys the now nearly empty building, the property is due a reassessment. And that value will be MUCH lower than the previous.
So, your comment about no being sympathetic is not well thought out.
Be careful what you wish for,
You have to be pretty darn well off to own one of those building in NYC. Not to mention all.the money they have brought in for the last 10 years.
now its only worth rock bottom prices and thats if you can sell it.
This is what happens when you keep voting in these incompetent politicians.
Very true, but also the people on the ballot are generally all incompetent capitalist shills
We need more groups like Justice Democrats finding and putting on the ballot everyday people who actually care about their neighbors rather than career politicians looking for power and money
@@harashe1000 Justice Democrats? Are they like the Justice League, is Biden your Superman?
Its not because of COVID. Its because its very expensive for Apartments in New York. 2000 dollars for a 2 bedroom F that. So people now are seeing how expensive it is in New York and California. I'm in Texas and alot of people are moving here from those states because its too expensive and they have been moving to Texas for the last 5 years so its not COVID.
Don’t I know it. I’m in the Austin area. Half my neighbors are from other states (mostly CA). So thankful our house is paid for. We could easily sell it and make a huge profit - but then where would we go? Now our home prices have skyrocketed.
Covid only exasperated an already unlivable situation i agree.
2K for a 2 bedroom in NYC is a steal
I predict many frozen pipes this winter. Lack of rent means many landlords won't be able to pay heating bills.
Just drain them first.
Awww,,but its ok, the government workers will be very very warm!
Biden did say it was gonna be a dark winter.
@@AtheismF7W until you realize that in your 30 unit apartment complex there remains just one tenant living all the way up and that the type of boiler you have is an "all or nothing" solution where you either send heat to all apartment units or none, you are forced to heat up all the remaining empty apartments just to comply with the law and send heat to that one tenant you have living there that may very well be taking advantage of the rental moratorium. I think this is one of the landlord's worse nightmares in today's time.
@@zikemdg look up operation dark winter
NYC isn't on the brink of catastrophe, but those slumlords with the overpriced closets might be.
i agree
Agreed
Yes, fk em. I hope they suffer & fail for all of their years of greed & usury
I agree!
You only see them as "slum lords" because of NYC's high taxes.
I can just tell she’s never known real struggle. The fact that half of the building is still occupied ....so she’s still getting all of that money monthly while people are sick, have lost their jobs and are mourning the deaths of loved ones and she’s just whining about her investment property not making as much as it used to! I’m sure she lives comfortably in nice home in a nice area, she sounds whiny and entitled.🤷🏾♀️
@DarleneOctavia Business owners struggle all the time. People always think business owners always make a lot money which is sometimes true but their taxed multiple times or more per year and have to pay taxes for employees also having to spend money on things the business needs.
You OWN an apartment building!!!!
In NYC!!!!!
Yeah, having trouble feeling sorry for her.
All them apartments 3 to4,000per month I have no sympathy charge less rent that ppl can afford watch how fast they fill up
“Otherwise building owners are not gonna make it”...... I believe that was part of the plan!
Democrat Party is the Real Estate Party.
@Customcalendars4u2 There is no plan. People want to believe there is a plan because it's less scary than all of this being random and uncertain for everyone.
What plan? Look at history. Has it ever been otherwise?! Greed has been here since the dawn of humanity...
@@tylerwilson3172 Not really. It happened in '08. They tightened the rules and regulation and made it very expensive for investors to cover their bills and the banks repossessed the buildings. A prominent democrat senator then came and bought up everything cheaply. That's not conspiracy, but actually happened. That's why I have zero interest in politicians, they're pure breed leeches.
I left NYC in February after living there for 11 years. Most landlords are charging $$$ for not so great building conditions. I had to wait until Nov. for mine to turn on the heat. And I’m not talking about section 8. So I don’t feel so bad for them. 🙃
🤦🏾🤦🏾🤦🏾🤦🏾 I was raised in Staten island NY, and I do understand how NYC is when comes fixing living conditions that vitally needs fixing.
Growing up in new York in the 80s and 90s there was plenty of times I’ve slept without heat or didn’t have hot water to shower . Never been a easy place to live
@@icedcoffee6461 you’re so right, I was raised there.
I spent some time living in New York. It was more affordable almost 2 decades ago. Now, my old neighborhood is the stomping grounds of investment bankers. I live in one of the 3 most expensive cities in the USA but, still, I think New York is a rip off. It's a city I'll only ever visit!
@@swicheroo1 I agree, I totally understand, Staten Island, New York, will always be home to me,, I miss New York so much,but I don’t think I can live there anymore, it’s just not the same and when I lived there from a baby and up, it was cheaper to live there and somewhat safer, I was there living there when Son OF Sam was a serial killer and I was so so scared, I would run so fast at night time heading home and that’s how I started running track there, the second fastest runner on the team, the Staten Island Starlets.💃🏽😊💃🏽😊💃🏽😊
Awwwww, no more traveling the world on revenue from overpriced rent.
i mean the alternative is corporations owning all of the rental buildings
These landlords beat people over the head for rent but when they need a hand out it's all "woah is me"
You never complained when you ruled the roost. You never thought about your tenants when the cash was flowing in.
20 years renting overpriced houses and no money for rainy days? Besides the housing market in big cities is broke. How low income people are supposed to live and work there? Rich people don't think of this when they go to restaurants, hotels, shops...until there will be no one to serve them.
Also no office workers to fill commercial real estate.
20 years paying obscene taxes, elec bills,water bills, insurance, city inspections, permits for repairs, paying for tenants that don't pay their rent. Maybe the landlords should just walk away from a bad investment and let you take care of it. Then you can charge whatever rent you choose.
When the low income people in the cities are no longer there to serve, the people just above them will fall into their place, therefore becoming the new servants. What a mess that's gonna be to clean up. I doubt they'll even get paid a living wage for it.
Or shine their shoes at Grand Central Station when they are reading the Wall Street Journal looking at all their financial gains. This is such a sick Society. This is why I left Manhattan for Florida over 30 years ago. Home paid off now. 20 minutes to beach. And $2000 Property taxes a year on a nice 3/2 in gated community with amenities. And great wife. You can have it too. And gorgeous beaches and Winters. Come on down. First round is on me if your from New York City. What are you waiting for? For your property taxes to up again?
the tenants would have more savings if they hadn't being paying so much, investing in real estate is riskier than most think
Now she knows how tenants feel 🤷🏿♂️
I would say to the mayor: "but you've been taking an additional 4% in city income taxes off 8 million people that virtually no other city in the U.S. takes -- why can't NYC front an aide package?"
NYC relies too heavily on property tax to meet its budget. NYC has given to many big tax breaks to corp and the little guy suffers. All of NYC is suffering; the people, business, and gov't
Maybe if the politicians stop giving the money to freeloaders, NYC, might be in better shape..
NYC has grossly mismanaged it's finances for years, move to Utah where the average property tax rate is 0.66%, and rent is fairly affordable.
@@samwestfahl3959 ...please no. Don't tell them to move west.
lol isn’t this the whole point of an investment the risk and reward. they reaped the rewards for decades and now they can’t pay for one year
Poor Millionaires. HAHHAAH
@@dl1388 “ will some one think of the stock market please” meanwhile hundreds of thousands of dead.Millions more at risk to become homeless. And I’m supposed to feel bad for some landlords losing their homes. If they lose their building it only means that’s someone else will buy. Isnt that the whole point of capitalism lol
You are right I never thought of it like that but you are absolutely right
@juscurious Baffled why we have to protect the landlords personal investment? Who makes my 401 (k) whole if it loses value?
Some small owners are middle class struggling to get by , they own one bldg they aren’t rich , they have huge Mortgages
I'm in Michigan, moved here from California, used my life's savings to restore several abandoned homes to help rebuild the area.. it's working and lots of new people moving in and working on neighboring properties... My building has been vacant for 6 years while I lovingly restored it. Paid all cash, other can be cavalier about small landlords like me that bust our butts to make an honest living... I know there are bad landlords out there (I'm not one!) BUT I want to be paid for my units which are top notch... wont rent them unless I"m 100% sure I'm getting paid. How would you like to work for months and not be paid by your employer? I was homeless 3 times in my 20's and I got myself together, worked super hard, and turned all of this around! Covid sucks what its doing to all of us.
starving homeless landlords. i feel so bad for landlords who own 12 apartment complexes, 2 metro compounds, and 3 resort town homes. this is why people don't watch TV anymore you moldy biscuits.. . . .
😂😂 agree
You may want to think again. When corporations start owing these properties, we'll see if the new owners will be willing to work with their tenants.
@@nataliejones7693 The point is there is a huge amount of people with no homes, food, water, family or friends out there Natalie.
moldy biscuits?
@@nataliejones7693 I’m sure they will work with you if you pay your rent. Housing isn’t free, even for landlords.
So people don’t want to pay $4,000 per month for a studio 😂😂
lol no haha
The price ain’t the problem. The govt is the problem
@@PInk77W1 govt is not the issue
@@waitandhope
Dr Josh Umber charges $50 a month for health care.
My govt plan is $750 a month.
YES govt is the issue
Him Bike you’d probably pay less with a Medicare for all type system
Wrong deblasio...its mostly your fault. What you have done to the city is horrible. Share some of that blame with Coumo.
Property taxes are outrageous all over the state. What is needed is a major cut in taxes to bring them back to reality. In most of the state just a normal family home, not big, not elaborate, the taxes can be $5000. to $15,000. a year for state and local and then school. It is driving seniors out first and now everyone is rethinking living in NY! Taxes should be cut 10% a yea for a few years with municipalities learning to live within a reasonable budget. It won't happen but a freeze should, not the 2% cap, a total freeze!
Maybe next time don't vote for people who would like to make your economic situation worse.
@@bostongalden1171 I did not vote for either of them.
These 2 guys are the problem,,,they have not missed ONE paycheck. REMEMBER president TRUMP HAS NOT TAKEN ONE paycheck in four, YES thats 4 years
@Jenna Jobasia in a month Biden can work his magic with COVID. The same magic he used to become PRESIDENT! Watch his solution. IT SHOULD BE VERY INTERESTING!!
I have 0 sympathy for landlords in New York.. I have seen stories of people who rent in york that put down INSANE high deposits, lifetime of savings just to be able to get approved to move into crazy tiny cramped units. With that kind of pricing and the ability for landlords to be that picky and demand those kind of move in costs and requirements.. It really makes no sense they didnt "save for a rainy day" I hope this landlord does not represent the majority of landlords there. Smh
Sorry to hear Buttercup ! Welcome to hardships when cash flow STOP!
Soon they won't be able to charge $7000 a month for a 15 ft.sq. studio apartment. Oh, the horror!!!
That will happen when the Democrat government decides to stop raising taxes.
Imagine lowering the rent price instead of “paying” the vacancy
That’s too much like the right thing to do......but she’s probably too stubborn and would rather get nothing.
@@kiymo1 It really depends on whether or not she can afford it. She most likely has a mortgage and pays hundreds of thousands every month, if she lowers rents then she might not be able to afford to keep the building. Even if she is in a moratorium, she still has to pay for building expenses to comply with NYC laws, like heating. If tenants don't pay rent, landlords can't pay their mortgage, utilities, etc, if landlords don't pay banks might go bankrupt or cities might be short on tax revenue to keep services running. Things are not that simple.
@@colombiantom It's according to how much profit she actually gets. Some people want to live like kings and bleed turnips dry.
@@thebes56 Exactly, and some people want to have passive income to replace their salary. I just looked at a building in the bronx that sells for 15 million. The mortgage is 80k a month, looking at the numbers she can get and average of 2k per unit a month x 45 units= 90k. She might only make 10k a month, maybe 20k. On top of that she needs to pay for heat, electricity of the common areas, a super for minor repairs cleaning and trash. This does not include vacancies, property management, realtor fees etc. She might get anywhere between 5k -10k a month, which is not a lot in NYC.
Exactly!
They want us to feel sorry for them?
If they lower the rent you'll fill the place and be able to pay your rent theyre over charging for nothing
Too bad don’t charge 2000+ for a one bedroom apt in Harlem
How do regular people afford that??
Lower the rent then.
Lowering the rent won't solve the problem when it won't be enough to cover the mortgage/insurance/taxes and now u have to pay the utilities on top of that
@@Realitybit So that means things need to change even higher up the ladder. Either that happens or we all get what’s coming and has really already begun.
@@Realitybit Letting the apartment sit empty won’t help either!
in NYC their not allowed too. the banks sell the houses with conditions too how much the rent has to be too keep up the value of land.
@@mcanad8203 It can't change without someone taking a loss. Plain and simple.
They rent out crappy apartments for exorbitant prices. I have a hard time feeling bad.
It’s pretty crazy the government tells renters it’s OK to not pay rent yet still collect taxes from landlords. Priceless
Exactly. Landlords have to pay. It's BS.
I’ll go to nyc for $500 rent for a 2 bedroom.
I wouldn't go permanent went things get back to normal , back to 5000 month
Lol parking garage is 600$ in Manhattan
You can’t even rent a 2BR trailer in upstate NY for that. Where are you from? The Ozarks?
A 2 bedroom in NYC goes for 1400 and up. I have a 2 bedroom which is under 900 a month because I lived here for 24 years. My landlord wants me out for they can get 1400 or more for my apartment. I leave when I'm ready or pay me to leave. They don't bother me no more because I told and my lawyer told them if they harrassed me any more we going to sue. They nice to me now they fired the guy who was harassing me.
@@yolandaimgreat1494 2 bed for 1400 is like in the hood with gunshots every 1 hour during the night
Why is this a surprise?
The "elected leaders" who got in there brought this all about.
They can't make the connection dude. For relatively smart people, they don't get it. AOC killed them with Amazon and they re-elected her.
@@treehouse2902 You have a point. People do not admit to themselves that it's going in the wrong direction because they're hooked into a belief.
Her as well as many others would not be there if there were voter ID laws.
The reason why they would not be there is because they're opposed to good decent honest working people.
They brought covid?
@@christopherayettey4390 I get the idea you're a Biden supporter.
puppets that's all they are, just taking orders
Being a landlord means being a real estate investor. That means taking risks for returns. Sometimes things go badly and investors will lose their investment. THIS IS NORMAL.The regular joes who've lost their jobs need help, not these millionaire landlords.
Living in a North Eastern US city, I have little sympathy for these landlords. As long as people want to move to NYC and Boston, they are happy to charge as much as they possibly can for rent. They fight rent controlled housing tooth and nail. My rent in Boston has gone up every year including this year. This woman can weather this, if she chooses not to, she will sell her property and still be a millionaire and then buy more property and make up the losses. To say that all the help is “one-sided”... please Karen. When the out of work waitress can no longer pay her rent, she is actually @#$&d and probably doesn’t have equity to fall back on. I guarantee you that these landlords have had tenants that lost jobs, had babies, got a divorce, had health problems and when they struggled to pay rent, these landlords would be more than willing to throw them out.
Anyone who buys a rental building in NYC does so at their own peril. Look at the Mayor and City Council members. They don't represent your interests.
Yes they pass laws making it impossible for all the small landlords to operate. Such as forcing them to go two years without the tenants having to pay any rent.
The tenants then laugh with glee and cheer as they watch them all go out of business. The rental giants then quietly buy up everything with the Mayor's blessing. Then tenants all shake their heads and wonder why rents are so high after all of their rental choices went bankrupt.
They never have and never will represent your interest.
NYC is done!! Get the hell out NYC. The crime has exploded since the so called outbreak.
Wtf do you mean by "so called"?
Nothing but facts ! NYC is trash!
No! Stay and live in what you all voted for!
Thank God I was able move into my parents old home. Yes i was evicted too.
Glad you had a back up.
@@atruckin_hairstylist6645 I got blessed. I'm so so blessed.
“Waaaaa! I thought it would be a cash cow... that’s why I bought the building!! Waaaaaa! I don’t wanna pay taxes! Waaaa! It’s not fair!! Waaaaa!!” Gnashing of teeth!
People's perceptions of landlords is insane. Why do you think owning property is a cash cow? It works exactly for home owners. Almost all of mortgage payments for the first 15 years goes to the bank just for interest.
@@CasiodorusRex And?! Did I claim it was different in that sense?? But... you get the tenant to make the mortgage payment for ya now... don’t ya?! Then after 30 years of someone else paying the mortgage for you you ‘own’ it? Do the tenants have guaranteed income from their employers?! Yet you want guaranteed income from your tenants?? May God show you mercy to the measure that you show mercy to your tenants.
@@bythedog I don't get the tenant to do anything. They answer an ad I place to rent a house I own. What are their options? Either buy a house, rent or live with their parents. They are the ones making the choice. If they buy a house and don't pay the mortgage the bank will forclose. Why do you think landlords should do any different? No one owes anyone anything. BTW, I don't have mortgages because I buy my houses cash.
@@CasiodorusRex You’re not very bright... are ya? By you buying a house with the sole intent to rent it out... did you take a home off the market that would have been available for a single family to acquire to ACTUALLY LIVE IN THE HOME?!? You create a false demand which pushes up prices for people that just want an affordable place because you had absolutely no interest in living in the home! Think, McFly! 🤪
@Rachel Goldberg Sure... put a gun to their heads. Sign or live on the street? Well then... don’t cry when the city demands their taxes... or else YOU get evicted?? You believe you’re no listed as a ‘tenant’ on the mortgage paperwork you signed to obtain ‘ownership’ of the building? Forgive us our debts AS we forgive our debtors?? Ringing any bells?
Landlords are learning the hard way why it never paid to be greedy, and charge so much rent for less space, etc. Gentrifications was your worst move because the first to take flight when SHTF are the rich people who made you. A wise landlord would lower their rent according to what the masses could afford just to make some of the money back that they are dishing out on empty apartments anyway. That doesn’t mean let anyone move in but some people that are actually decent have it hard finding an affordable place with NYC wages, and not being jiped by slum lords.
Says the clueless poor person
@@WestCoastR1der Were not the ones asking the government to intervene.
Property land lords need a pause . they need a break on the property tax . Tenants also need lower taxes .everyone needs a more affordable way of living . specially when new york city is high on crime and not safe .
Stacey Golia is really SNL's Heidi Gardner doing her side-gig.
Would you smash?
At first I understood the plight of landlords during the pandemic, but no more: where I live in a 200 unit apt. complex in NC, they sent out a letter saying (in effect): "We don't care what any moratorium says, pay the rent on time, in full, or we will evict you. We don't plan to work with anyone on anything." Actually, they CAN legally evict people here, as no federal loans or other assistance is involved with the property. THEN, while there has been NO increase in property tax in the area, the landlords almost immediately raised the rent 8% when the first stimulus checks came out, and they have scheduled an additional 10% increase as leases renew. This is in 50 year old buildings in a state of disrepair. People are moving out, and apparently the attitude of the owners here is "We will raise the rent on people who ARE paying in occupied apts. to make up for low occupancy and non paying tenants." At this point, I have no further compassion for the landlords.
Landlords are parasites.
You mean you can't make payments after renting out a shoebox for $5K
Yeah, because they bought in on the hype. They offered the old lady who Owned the run down building and made her a multi-millionaire. The speculated and speculated until it went bust. Same thing happened in Coney Island, there were so many speculators buying empty lots that it because to expensive to buy and the investors lost interest!
😂😂😂💯
Right! Mfers will have a building with 6 units charging an average of $5K for each one and are now struggling.
😂😂
Some landlords are not huge corporations with extra capitol. And you don’t know what they paid for the building.
their catastrophe is a boon to financial firms that will buy those buildings at bargain bin prices
He doesn't l👀k like a geek to me 😍
He doesn't l👀k like a geek to me 😍
Or to wealthy investors waiting for the crash. Made out like a bandit in 2008.
A vicious cycle.
Oh Yeah, large real estate development cartel is going to have a field day buying up these places and I see continues condol being constructed despise the COVID lock down.
That's what they get for" gentrifying"'.
Yeah because fixing a broken filthy crappy neighborhoods is a bad thing for a society. Wow, what mental gymnastics do you have to do to come to that conclusion?
Those gentrifiers got to go back to their home towns where rent is cheap. Meanwhile, native New Yorkers are left with the aftermath of gentrification and extremely high rents.
Maybe if you didn't let your neighborhoods get so bad, then people with actual pride wouldn't step-in and improve it for you. Grow up and take responsibility for your own actions.
@@hotchocolategirl1der Many are native New Yorkers, dummy.
@@firstnamelastname9579 Well said.
If you were smart business person with money, wait for these landlords to go belly up and buy their properties on the cheap. People will come back to NYC, so you just wait when the pandemic is over.
I was a landlord for a few years for a duplex in the suburbs of Albany NY. I was surprised how much I was seen as a bad guy from acquaintances. I charged under market rates, allowed pets and children in a hope to get good renters who would stay. And I was seen as taking advantage of people. I thought I was doing a service to families who otherwise would be renting somewhere else that wasn't as nice. I sure learned how NY state provides rights to tenants that boggled my mind. And when I moved out of the area for a time I was chastised about being an absentee landlord. I ended up paying one tenant a thousand dollars to move out after she didn't pay rent for 3 months .And sold it out soon after.
I wouldn’t be a landlord under any circumstances because ruled are unfair to the landlord more than to awful renters.
I think landlords are full of it because if they were that desperate for paying tenants they would accept housing programs. If you look up that apartment for sale they intentionally will say you need an income of 80,000 annually, which any real estate agent will tell you is a clever way to say no to the poor. Smh, honestly I think they are just being greedy instead of trying to help everyone involved.
It's almost as if someone wants independent owners to lose these buildings so they could be bought back cheaply by the State...
Affordable housing has been a growing problem. Maybe this will help the market correct itself 😛
Lolol. It's because of discrimination in housing too. Don't forget that calculation.
you gentrifed the place for these disloyal transplants. laughable.
Absolutely...100%
Exactly!
Absolutely 100% correct. I feel nothing for them.
@@quietstorm7nine When doesn't it backfire? You place all your eggs in that basket, the strangers come, and they are the first ones to bolt when SHTF. It was us that lived through the 70s 80s and 90s that made NYC a badass place that they wanted to be a part of.
🤣🤣🤣✊🏽
Its hard for me to feel sorry for them when they took full advantage when the housing market worked for them.
You should blame the big land lords who brought out the place.Not indiviual landlords owning a house.
@@justabotatthings.1039 Im not Im blaming landlords in big cities that own apartments buildings and charge exorbitant rents.
@@mroadless2457 oh sorry it just that the people or landlord u were describing werent specific enough thats why.
@@justabotatthings.1039 Yeah I realized that thats why I wanted to clarify, I get what you are saying.
Exactly my thoughts!
Irony is in 2013 there were 84 billionaires living in Manhattan. In 2020 there are 103, so much for the "rich fleeing" 😂😂
Well.... she might want to start working with people who have the money. Lower the rent love!
Awww, A taste of their own medicine.
Such an ignorant thing to say
Landlords are parasitic capitalists. Let them go under especially these gentrifiers.
@@chrisyoung1720 cmon man!
@Awaatif Tifloen Not true, capitalism is uniquely Western European system that's been imposed on the rest of the world, it's not all humans
@@chrisyoung1720 facts
All they’re going to do is put in lazy, drug addicts, and section 8 in them. Crime and apartments are going to be trashed. I applied 10 years ago for one of those affordable apartments and got no call. I work at a hospital 15 years. Pay my taxes. I have 1 child. But, a non productive 4 kids that use a sheet for curtains can live in one. So not fair. I’ve decided to leave NY next year. Rent for two bedroom is too much on my income. It will take my entire first paycheck to pay rent for a two bedroom. It’s not fair for a regular working person who makes $50,000 a year.
Get out of the city. You would do real good in most parts of rural America Peace
I’m a working single mother of a child with various disabilities and special needs. I have been applying for several years and have never been called. I know 4 people that have gotten them and 3 out of 4 are single young working people in the hospitality industry. I wouldn’t assume broke bum single moms are the ones getting all the apts. It really does seem to be a matter of luck with having your application chosen at random.
Section 8 has been frozen (stopped) since 2014. Whoever currently has it might not get enough to rent those out. See if you move maybe to NJ or CT. You might get more out of those states and still be able to visit the city when you want to.
@@mikegreen1095 The caveat is there are no jobs in rural America that's why people don't want to move there and there's nothing to do. Why would someone move from NYC to somewhere like Gatesville, TX??? They will need to move to a cheaper city like Charlotte, Dallas, Houston, Atlanta etc....
@@sbostic08 ...please don't tell them.
Why would this be a federal problem?
the housing market in the city is eventually gonna crash terribly until, those ppl buy up all the real estate
Oh please greedy landlords. Don't feel bad for them at all.
That's the risk involved with ANY business venture !!!
I can hear the cries of 1970's, they are making a comeback.
I got evicted over a credit score although I paid on time for 17 months, you landlords are getting what you deserve and the city is getting what they wanted by making so many suffer at the hands of landlords.
wow
Dear NYC, GET RID OF DEBLASIO. RECALL HIM. He is your problem. Then Cuomo. You get the government you deserve. Do better when you vote.
You are so incredibly CORRECT!! You vote the same idiots in and expect things to change!
But not the govenor? Right! You say that why? What policy has he done wrong by you with? Can you even name 1?
A Soros plant is like herpes, you can't get rid of it.
@Yabadabonboo But smarter than you.
Just keep voting Democrat I'm sure things will get better. Look how well they have done so far.
I say no to federal aid. Let NYC take care of it. If they allow its government to destroy it and if they are too rich to accept 20 billion from Amazon then they dont need help
I’m willing to rent but the rents are still exorbitant and the process of getting the apartments are still crazy hard. If they were more affordable I’d move in a heartbeat
Thank you governor. My tenant takes advantage on your project “you don’t need to pay rent “ 8 months from now and this tenant invited other two people live in while collect the rent. I have to work 12hrs 7days week to make sure I can pay mortgage. Then what these tenant are taking UI and wait until may 2021 to move out. Thank you so much !
Maybe they’d have renters if they didn’t charge $3k per month for a closet.
Exactly its common sense
Not surprising about overpriced rent
Funny thing is they did..Sometimes there were waiting lists....People including myself loved Manhattan...All though I own a home in Bk , people just could not get enough of Manhattan....Its what the market called for....Now ? Good question....
Well now the landlords better suck it up. They had no problems charging huge amounts. Should’ve saved for a rainy day.
Closet is an additional 2K.
Government pauses rent but not its own property taxes. Hypocrisy at its finest.
Which are illegal btw according to the constitution. They've been scamming ppl for years, but no one wants to talk about that cause their too scared of losing their jobs. The stupidity is overwhelming.
Keeping rent high is a way to keep out a lot of the garbage from living there.
Sell the building to someone who can afford it and move on...simple as that
How about move out to a apartment you can afford. And let someone who can afford the apartment move in. Lazy bums are something else.... you want someone to sell there property to someone who can afford to let you still live there for free... yes I say lazy bum because yours is the mentality of someone who does not want to handle there responsibility to pay what they owe. Simple as that. Spare me the story of how you can't so someone else should do it for you...
@@BobFiercetube *their