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To the editor:
Howard Husock of the American Enterprise Institute claims to know the cause of hazardous conditions in affordable, rent stabilized apartments. He says landlords cannot afford to make repairs on apartments who's rents are less than $1,500 a month, with some as low as $1,100 a month.
$1,500 a month amounts to $18,000 a year and $1,100 a month is $13,200 annually. The current NYC minimum wage is $17 an hour, which amounts to $35,360 a year. So $1,100 a month would be affordable to those laboring for that salary.
$1,500 a month would be affordable for beginner NYC cops, firefighters and EMS workers who make as little as $60,884, $54,123 and $43,932 respectively.
Husock cites the NYC market rate medium rent as over $4,000 a month. That's over $48,000 a year. What percentage of NYC workers can afford that?
So what is the American Enterprise Institute's position on the minimum wage? They feel it should not exist.
What's their "logic?" They claim it prices low-wage workers out of the job market. So employers will not hire employees they need if they have to pay those working for a living a living wage?
I'm old enough to remember that in 1968, my family moved into a two-bedroom, two-bath apartment in a new building for rent a little under $300 a month. In 1959, Dion declined to ride on the plane that doomed Buddy Holly, Ritchie Valens and The Big Bopper because it would have cost him $30 and that was what his parents were paying in rent for their Bronx apartment.
But today we are told that landlords cannot afford to maintain apartments in their buildings unless they charge unaffordable rents.
Richard Warren
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Valete
Landlords are required by law to file IRS Form Schedule E (Supplemental income and loss). This core document is used by individual landlords to report their gross rental income, operating expenses (such as property taxes, repairs, and insurance), and depreciation. If landlords can prove that higher costs prevent them from repairing apartments renting for less than $1,500 in NYC, they should be allowed to raise rents proportionally. This is a legitimate business practice.
Wednesday, June 3 Report this
Admin
So are you claiming that every landlord who's charging, or wants to charge, more than $1,500 a month can prove that they need to? How about landlords charging more than $4,000 a month? So you have gone from defenses of Trump you cannot back up to attacks on me you cannot back up. Perhaps if you made an effort to limit your letters and comments to what is morally, factually and logically correct, you might make more worthy contributions.
Thursday, June 4 Report this
Valete
"If I were paying $4,000 or more per month for an apartment in a state of severe disrepair, I would most definitely get my head examined,” or if you are inclined, do not pay your rent, wait for an eviction notice, and take the cheapskate landlord to court.
Thursday, June 4 Report this
Valete
I want to clarify that my intention is not to attack you. I simply stated that business principles align with sound accounting fundamentals. If landlords can present an IRS form Schedule E showing increased expenses, they have justification to increase rents proportionally. This is a valid argument. ( Isn’t that the purpose of a debate?)
Friday, June 5 Report this
Admin
But your argument does not rebut anything I said. Also, I was not stating that $4,000 a month apartments are in a state of disrepair. I was stating that it is questionable that a landlord has to charge that much to keep an apartment in good condition and that most working people cannot afford that much in rent.
Friday, June 5 Report this
Valete
Allow me to clarify my previous post. If I were a full-time minimum wage earner residing in New York City, with a monthly rent payment of $1,500.00 for an inadequately maintained apartment, which would constitute 55.15% of my monthly income, I would choose to withhold rent payments. Subsequently, I would await an eviction notice and present my case to the court. Following the court proceedings, I would undergo a head examination to identify the reason behind my decision to rent the apartment in the first place.
Saturday, June 6 Report this
Admin
What if the landlord stopped maintaining the apartment only after you rented it? Also, you still are not rebutting anything I said in my letter. I've known a number of people in my life who argue like you, and most were or are not even in Republicans. It seems that your type seem to keep throwing up arguments when you don't have an argument.
Sunday, June 7 Report this
Valete
Hypothetically, if the landlord stopped maintaining the apartment after my rental agreement started, my post outlines a detailed scenario. Ultimately, the court will decide on a fair resolution to this issue. Additionally, it’s important to note that many families have dual incomes. This financial arrangement makes rent affordable until the base salaries of New York City police officers, firefighters, and sanitation workers, which start between $44,000 and $61,000, increase to their highest base steps between $95,000 and $117,000 after about five and a half years.
Monday, June 8 Report this
Valete
Many liberals debate economics, social issues, and international relations, but their arguments often lack logical coherence. Previously affiliated with the Democratic Party, I have since transitioned to an independent political stance. I do not affiliate with either the Republican or Democrat party, and I rely on independent sources for my news information. I read The Times to gain a liberal perspective on current events. Based on these criteria, I form my opinions and musings on domestic and international politics. For witty satire, I read George Bernard Shaw, For a more spiritual experience, I read Bernard McGinn and C.S. Lewis. For surrealism, I read Franz Kafka, and so I never forget, "I read Imre Kertesz and Elie Wiesel.”
Monday, June 8 Report this