So I'm guessing that landlords of rent controlled apartments also get a break in their property taxes?

In NYC, landlords of rent-controlled apartments are entitled to 7&1/2 % increases, every year. However, before being granted that raise, they must pay a filing fee for each rent-controlled apartment AND certify that their buildings are free of violations. That's why many rent controlled tenants never see their rents go up, as some landlords don't see it as worth their while.

I suppose but the landlords in NYC are insanely crazy about rent control laws because obviously it makes it impossible for them to maximize their rents. Which is why so many landlords torture their rent controlled tenants in an effort to get them to move out.

That would have made for a good Seinfeld episode.

We have a terrific landlady who is good to us despite the fact we pay hardly any rent for a three bedroom apartment in a very desirable neighborhood. We have the heat at something like 74 degrees all winter long and she is fine with it. Sometimes she brings us spaghetti sauce when she stops by. We may be the luckiest rent stabilized tenants in Brooklyn.

Sounds to me like a system that perhaps was well-intentioned at the outset but has created all sorts of perverse situations and is in need of serious reform.

I agree entirely Peter, it's a bad system. It was instituted after WWII to help returning soldiers secure affordable housing. It's been pointless for decades and a burden to building owners, but no politician has ever been willing to touch it. Kicking old people out of apartments they lived in for most of their lives is political suicide.

The laws basically provide an incentive to work less, to earn less, for some.

The goon has now sent me a personal email. Anyone else get an odd contact of the like?

he missed you

I always enjoy when the Bruces post. I wish there were more Pauls working on my collection. That must be nice.

Well, when you build two billion dollar companies (cough cough) you can have as many Pauls as you want.

I am feeling left out. I want a personalized email....

Happy to forward you "their" parting shot to me...don't want you feeling left out...;)

Was it something like: "to the last we grapple with thee; from hell's heart we stab at thee; for hate's sake we spit our last breath at thee. Whilst"?

wow what a train wreck lol