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RENTAL - NO ONE WANTS TO EVEN RENT IN THE CITY
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mikechristine1
September 15, 2014, 7:32pm Report to Moderator
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Times Union has this story about rentals today.

You can't help but split a gut when it comes to Schenectady      


LOOK!   Here is 148 Front Street!   It was listed for sale in June 2013.   NO ONE WANTS TO BUY A HOUSE IN THE CITY.

LOOK at the for rent listing in the link below!   Look a the snow.   Still listed for rent !!!!!!!!!    Holy poop.    NO ONE WANTS TO RENT IN THE CITY!

And rent for the UNGODLY amount of $1,250 to live above someone else, in a place where there is no garage, no driveway, no off street parking.   Oh hell, no one in their right mind would pay that much and basically throw their money away.   You can go outside of the city and buy a ONE FAMILY house with same square foot inside, a basement with washer and dryer, a garage and driveway, a larger lot AND the mortgage payment (consisting of principal, interest, taxes, homeowners insurance, mortgage insurance, private trash collection) would be several hundred dollars less AND you would acquire equity.  Hell, in 30 years the rent will be at least double, maybe triple, but your house you might be paying a couple hundred dollars more (in a mortgage outside the city) and you would actually have an asset

Heck you could get a house with a 15 year mortgage with all those amenities for a monthly payment the same as this house.   And after 15 years you are home free.

WHO would EVER want to pay $1,250 along with the annual rental increases because the city's taxes are outrageous, and then after 15 years you have NOTHING to show for all that money?    

http://realestate.timesunion.c.....21e2fe35466ad0008f0/




Contrary to what those who cheer for wild uncontrolled spending of tax dollars on downtown think, this is NOT a complaint.   This above is FACT.

In order to create a positive Schenectady, the TRUTHS, the FACTS, and the EVIDENCE must be presented and told so that everyone knows how the leadership of the city is ruining the city, causing massive reduction in the tax base combined with massive increase in taxes combined with cuts in essential services


Optimists close their eyes and pretend problems are non existent.  
Better to have open eyes, see the truths, acknowledge the negatives, and
speak up for the people rather than the politicos and their rich cronies.
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September 16, 2014, 3:59am Report to Moderator
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Quoted Text
Rent control[edit]
Rent control exists in New York City and a small list of other municipalities in Nassau, Westchester, Albany, Rensselear, Schenectady, and Erie Counties.[5]

Qualification[edit]
To qualify for rent control, a tenant must have been continuously living in an apartment since July 1, 1971. When vacant, the unit becomes rent stabilized, except in buildings with fewer than six units, where it is usually removed from the program. In apartments within single and two-family homes, the tenant must have been residing in the unit continuously since March 31, 1953 in order to qualify for rent control. Once the unit becomes vacant, it leaves the rent control program and is not eligibile for rent stabilization.[6]

Rent control does not generally apply to units built after 1947.[6]

Terms[edit]
Rent control limits the price a landlord can charge a tenant for rent and also regulates the services the landlord must provide. Failure to provide these may allow the tenant to demand a lower rent.[6]

Outside of New York City, the state government determines the maximum rents and rate increases, and owners may periodically apply for increases.

In New York City, rent control is based on the Maximum Base Rent system. A maximum allowable rent is established for each unit, and every two years, the landlord may increase the rent up to 7.5% (As of 2012) until the Maximum Base Rent is reached. However, the tenant may challenge these increases on grounds that the building has violations or the owner does not need to increase the rent that much to cover expenses.

Maximum base rent[edit]
In New York City, the maximum base rent (MBR) is calculated to ensure the rent from rent control units covers the cost of building maintenance and improvements. As set up in the New York City Local Law 30 of 1970, the formula reflects real estate taxes, water and sewer charges, operating and maintenance expenses, return on capital value and vacancy and collection loss allowance. The MBR is updated every two years to reflect changes in these expenses.[7] The owner must apply for the maximum base rent system for the tenants, but before the MBR, rents were annually determined by the city/state, which developed its own set of regulations.

Rent stabilization[edit]
Rent stabilization exists only in New York City, Nassau, Rockland, and Westchester Counties.[8] It generally applies to units of six or greater built before 1974 and not subject to rent control (although owners of more recent buildings can agree to rent stabilization in exchange for tax benefits).[6] Regulation and policies may vary by municipality as to which buildings qualify. In addition, certain buildings such as non-profit housing are not included in the program, but upon leaving programs such as the Mitchell-Lama Housing Program or Section 8, they may enter rent stabilization if built before 1974. Also, apartments that are converted into co-ops and condos and vacated after July 7, 1993 may not be subject to rent stabilization.[9] In order for rents to be placed under regulation, the municipality must declare a housing emergency,[10] there has to be a rental vacancy rate of less than 5% for all or any class or classes of rental housing accommodations, which requires a housing vacancy survey to demonstrate it.

Qualification[edit]
The qualifications for rent stabilization have been changed over the years, reportedly to curb perceived abuses, which allowed the wealthy to enjoy rent increase protection that was intended to protect the working class.[11][12]

From the passage of the Rent Regulation Reform Act of 1997 to the Rent Act of 2011, rent stabilization was restricted to apartments where the legal, or stabilized, rent was under $2,000 per month. The 2011 law raised that to $2,500. The unit could be deregulated once the rent went above $2,000 under the 1997 law, $2,500 under the 2011 Act, and is either vacant or the household adjusted gross income was over $175,000 under the 1997 act or is $200,000 under the 2011 law, for two consecutive years.[13] If the stabilized rent is under $2,500, the residents' income does not affect the rent stabilized status of the apartment. A tenant has to use the stabilized apartment as their primary residence in order for the apartment to remain under rent stabilization.

Tenants who live in buildings built between February 1, 1947 and January 1, 1974 or who move into a pre-1947 building or into certain post-1974 buildings that received tax breaks (such as the 80-20 housing program) qualify for rent stabilization if the other financial terms are met. As part of city managed programs, some buildings become temporarily rent stabilized in return for a temporary reduction in real estate taxes when those buildings have been converted to residential use from another use group (commercial or industrial). Two of those programs,[14] J-51 for renovating buildings and 421-a for new construction, grant temporary rent stabilization to tenants of apartments in those building, thus overriding other qualifications.[15][16][17]

Terms[edit]
Rent stabilization sets maximum rates for annual rent increases and, as with rent control, entitles tenants to receive required services from their landlords and have their leases renewed. The rent guidelines board meets every year to determine how much the landlord can set future rents on the lease. Violations may cause a tenant's rent to be lowered.[6]


you see....remove the human from the land and the human becomes a tenant farmer/slave.......

your value determined by someone else.....


...you are a product of your environment, your environment is a product of your priorities, your priorities are a product of you......

The replacement of morality and conscience with law produces a deadly paradox.


STOP BEING GOOD DEMOCRATS---STOP BEING GOOD REPUBLICANS--START BEING GOOD AMERICANS

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senders
September 16, 2014, 6:25am Report to Moderator
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...you are a product of your environment, your environment is a product of your priorities, your priorities are a product of you......

The replacement of morality and conscience with law produces a deadly paradox.


STOP BEING GOOD DEMOCRATS---STOP BEING GOOD REPUBLICANS--START BEING GOOD AMERICANS

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sanfordy2
September 16, 2014, 7:07am Report to Moderator

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somewhere in time and space somewhere somebody wants to rent here....       
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senders
September 16, 2014, 7:33am Report to Moderator
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Quoted from sanfordy2
somewhere in time and space somewhere somebody wants to rent here....       


with subsidy of course....


...you are a product of your environment, your environment is a product of your priorities, your priorities are a product of you......

The replacement of morality and conscience with law produces a deadly paradox.


STOP BEING GOOD DEMOCRATS---STOP BEING GOOD REPUBLICANS--START BEING GOOD AMERICANS

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bumblethru
September 16, 2014, 12:49pm Report to Moderator
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We know folks who rent in those new downtown apts. they are looking to move to either nisky or glenville.....they said it gets old and boring fast. but that's just their opinion.

the rest of the city is most if not all section 8!


When the INSANE are running the ASYLUM
In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. -- Friedrich Nietzsche


“How fortunate for those in power that people never think.”
Adolph Hitler
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