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rent control buyout!

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J

jdavis

Guest
a 75 year old woman lives upstairs in a 3 family house. She has lived there for 38 years, and the apt. is rent control under the new york state rent control laws.

the new landlord is removing the other two tenants in the building. He has spoken to the elderly tenant, and states that he'll talk cash/buyout!

HOW MUCH MONEY CAN THE ELDERLY TENANT RECEIVE? IS THERE A FORMULA TO DERIVE A FIGURE?

PLEASE RESPOND ASAP, IF YOU NEED ADDITIONAL INFORMATION, LET ME KNOW!!!!!!
 


P

peter

Guest
No there is no figure...and IT IS ILLEGAL TO DEMAND A BUYOUT....That is EXTORION!

BUT... There is no way short of her dying that she will be forced to move,so relax...

YES if she acts like an asssshole...the landlord will sue her in court on mickey mouse charges, like paying her rent a few days late, or she has a lot of JUNK in her apartment etc.... so you should warn her about that, and her kids should help pay for a lawyer too...

Remember Its just a game.....

The Question is where does she live? what part of the city? And what does she do? Does she belong to a senior citizens center or ACTIVE in a church or group that right around the corner? Or does she have a JOB?.. If so that means MORE MONEY, as the landlord is asking for her to give up her activities and friends for some cash!

The landlord could BUY her a nice little 1 or 2 BR co-op or condo close by, and pay all her co op or condo charges, so in essence she gets a nice newer apartment rent free till she dies.... Then he can sell it....

Also just think he could get at least $1000 a more month in rent so even $50,000 is not a lot of money..considering she will have to pay a lot higher rent somewhere else.

Does she want to move to Florida? Or closer to you? Or does she have a life and needs to stay where she is?

But here is the kicker....If any one of her kids or grandkids want to move in with her and make it their PERMANENT RESIDENCE for 2 years, They must change ALL of their ID's bank car voting, everything to that adress and have no where else to live...FOR ONLY 2 YEARS they can inherit the lease at that rent....

If one of her kids or grandchildren wants to Live in New York with Her ... it could make the landlord pay even MORE $$$ to get rid of her.



 
T

Tracey

Guest
Peter, you are an evil, evil man. I'm in awe of your deviousness. Here I was, smugly thinking that *I* could channel Ivan the Terrible better than anyone else, & you make me look like a piker. Can I be your apprentice? :)

------------------
This is not legal advice and you are not my client. Double check everything with your own attorney and your state's laws.
 
J

jdavis

Guest
<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by Tracey:
Peter, you are an evil, evil man. I'm in awe of your deviousness. Here I was, smugly thinking that *I* could channel Ivan the Terrible better than anyone else, & you make me look like a piker. Can I be your apprentice? :)

<HR></BLOCKQUOTE>
thank you both for your information! I will make certain that all advice/info is checked, cross-checked and verified, as this information is not for me, but a dear friend!
thanks again!
 
P

peter

Guest
Thank you.....I have a soft spot for old people who might get thrown out on the street, or forced to live with their kids because a landlord wants to rent gouge the new yuppie dot commers.

The laws in New York City try and protect the long term tenant.... and right now there are less then 70,000 people still with rent controlled apartments Down from 1 MILLION just 20 years ago...and almost all of them are old and the few young ones have lived there all their lives...Talk about being MARRIED to an apartment.

My DJ buddy his father just died last year he has a 2 bedroom...old crummy looking apartment, with a bathroom so small you can barely sit on the toilet if you are 200 lbs.

His rent is $550 a month right on Bleeker st, in Greenwich Village, and other apartments they rennovate, are going for $2500 a month. But he lived there with his parents for 42 years! And the wiring has not been upgraded, so you can run 2 AC's but use the stove or microwave and the fuse blows. Probably still has lead paint under the 10 or 15 coats of paint... so it aint pretty but its cheap!

So I asked those questions.. yes to be devious ....but they will ask them too....If she has a life that could be worth $30,000 and up more then if she doesnt.

And if the landlord want to be a cheap bastarrrrrddd then threaten to have a family member move in.

Always remember, Donald Trump couldnt get a 85 year old woman the last person out of a house even after he offered her a brand new apartment and $100,000 cash becuase she is going blind and was scared to learn how to find her way around a new place.

Finally her kids stepped in and took $335,000 and moved her.




<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by Tracey:
Peter, you are an evil, evil man. I'm in awe of your deviousness. Here I was, smugly thinking that *I* could channel Ivan the Terrible better than anyone else, & you make me look like a piker. Can I be your apprentice? :)
<HR></BLOCKQUOTE>

 
P

peter

Guest
Tracey...could you email jdavis just to make sure she gets the last post...

thanks........
 
P

peter

Guest
Tracey:

FYI. rent control ONLY applies to those people and certain family members still living in the same apartment they were on Jun 30,1971

 

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