Nov. 17, 2015 By Christian Murray
The Hunters Point South development, which tax-subsidized residents started moving into in May, is already being gamed for profit by renters using Airbnb.
Lottery recipients who received luxury Manhattan-view waterfront apartments, with the help of taxpayer subsidies, are now renting them out for as much as $500 a night.
A unit in one of the two Hunters Point South affordable buildings was highly sought after last year. More than 92,700 people applied to snag one of the 925 units that were on offer. The chance to win was 1 in 100.
“This is the best apartment deal in New York City,” Frank Monterisi, the senior vice president of the Related Companies that developed the building, said at a meeting last year.
The development contains amenities such as an outdoor roof deck, rooftop garden, a fitness center and a children’s playroom.
Three residents were found to be cashing in on their affordable apartment deal on the controversial Airbnb site earlier this week.
One tenant, who went by the name Nathalye, advertized her two-bedroom apartment for $500 per night, with the headline “Luxury Apartment with great Manhattan views.” With a cleaning and service fee, a five-night stay comes to $2,809.
The apartment is located at 1-55 Borden Ave. and can sleep up to six guests, according to the ad. The Venezuelan native, who moved to the U.S. three years ago, has two reviews, according to her profile.
Nathalye took down her listing after she was contacted by the LICPost. She did not respond to requests for comment sent via Facebook.
Meanwhile another resident, who used the name W, is renting out a studio for $190 per night. The ad reads: “waterfront Studio, 1 stop Grand Cen,”
The ad goes on to say, “The studio is in a brand new building right across the street from the waterfront.”
When that person was contacted via Airbnb, there was no response. The listing is still up.
Meanwhile another apartment was listed this week as “New Luxury Affordable housing with NYC views.” It was going for $150 per night and is located at 1-50 50th Ave.
The rent for a studio apartment for moderate income earners in the development ranges from $1,561-$1997, a one bedroom from $1,965-2,509, and a two-bedroom $2,366-$3,300. For low-income earners the rent is even less.
Tenants in affordable housing complexes such as Hunters Point South who use Airbnb are putting themselves at risk of being thrown out, according to Related.
“Related is committed to ensuring that all our residential units comply with the rent-stabilization laws,” a spokeswoman for the company said. She said the tenants are violating these laws.
Related evicted a tenant in an affordable housing complex in Manhattan earlier this year who was allegedly profiting by it through Airbnb.
Councilman Jimmy Van Bramer said that the use of Airbnb is not only a violation of the rules but also of the spirit of affordable housing.
“For someone to be so lucky to live in one of those buildings to do this is outrageous,” Van Bramer said. He said Related should investigate and take action.
Pat O’Brien, the chairman of Community Board 2, echoed Van Bramer.
“Anyone who is subverting the affordable housing process for personal gain should be thrown out,” he said. “I’m sure we can find one of the other 90,000 people who applied to fill their spot.”
Jackie Strawbridge contributed reporting to this story.
You’ll need several multilingual interns. Most residents are smart enough to place their ads in foreign-language newspapers. I live at 1-55 Borden. During the summer, at times, our front desk looked more like one at a hotel than at a residence. People with lots of luggage, requesting keys, asking for directions to their apartments–are they family members or are they Airbnb guests? I’m really not against Airbnb, but I am against noisy guests and guests who toss cigarettes out of windows, and abuse our common spaces. I, too, think that the city has more complex and challenging issues to deal with than this minor one. I hope that our elected officials will do their real jobs, which they seem to dispense with after the election is won. We have much bigger problems that this one and, quite honestly, this is very old news.
Abolish “subsidized” housing. Why am I paying for someone to live in a better apartment that I can afford?
This is NOT government subsidized housing.
Your taxes have NOTHING to do with rent stabilization.
The building owners get a tax rebate to offer stabilized housing, knowing that eventually the original tenants will move out and they can raise the rents to market rates. It’s an investment opportunity for the developers and a good deal for middle income people.
The government is not spending your money on these rents.
925 units and 3 ads! Ok so they will get a scolding and a slap on the hand..Hope you’re all happy!
So next you will be telling me that my mom who lives in affordable housing and through my help is baking and selling fruitcakes, Pestiños, and Quesadas via the internet and word of mouth for the holidays should be evicted? Stop with this nonsense!!
Yea giving your mother money and running an illegal sublet are the same thing. Right.
Butt out. Ain’t nobody’s business what goes on in my apartment.
When you are taking handouts from others to pay for your apartment, then yes it is their business.
People with million-dollar mortgages getting fat tax deductions are the ones getting handouts, not someone paying $2,000 a month rent.
Apparently you can’t tell the difference between a tax deduction and a handout. A tax deduction lets somebody keep a portion of their own money, a handout gives you somebody else’s money. See this difference?
I don’t see it as a bad thing, but rather how the middle class is reacting to the declining standard of living. I doubt if any of these people would do it if they didn’t need the money to survive.
What if a family member or friend stays over a couple times each week? If they do it on a regular basis, is it okay for them to help out with the rent? You’re sharing your home with them, and that’s how I view what most of these people are doing. This is very different than operating a hotel.
The first change is just an interpretation of the law – they’re not running a hotel, and the state should just acknowledge that.
What do these renters have to fear, exactly? A letter warning them to take down their ad and not to do it again so openly online? I think I’m missing something.
We should persecute people renting out their apartments to tourists? WHAT? Give me a break!
I’m sure this works out great for the renters/hosts, but I don’t see a lot of support from neighbors of renters/hosts.
How about downsizing so you CAN afford to live where you live and do what you want to do? Why risk it? If your lifestyle can only be supported by the addition of an auxiliary source of income that may or may not be legal, but most certainly isn’t permanent or constant, why not adjust to make sure you can?
If you want to rent out your apartment, you must be present during their stay. Otherwise, no. I lived in a building that had 5-7 units doing this in a 40 unit building. Noise at all hours, our super could never get sleep as he had to let these guests into the building (no keys), trash left in the hallways, damage to the elevator. etc etc etc. Someone profits while the rest of the building has to suffer. Yea, BS. Shut it down.
I’ve been reading the comments this article seems to have instigated in the community and intrigued by how far people are taking this common practice of renting space out (a couch, living room, bedroom, apt) on a platform (craigslist, airbnb, etc). This isn’t a new concept, so why is it garnering attention? Because it’s “affordable” housing? Since when did affordable $2,000 for a studio become affordable? Because for some reason, you think your tax money directly pays my rent? I paid plenty in taxes during the last 20 years thank you very much. And all of these comments about the audaciousness of the government giving “luxury waterfront” apts to low-income people…is just sad. Where do you propose these low-income people deserve to live? Ten blocks away with a view of a brick wall? Maybe next to above ground train? Above a noisy bar? Get a life.
I’ve personally stayed at airbnb’s during travels in the last year and have had great experiences. These are just normal people renting out normal space to other normal people. There’s nothing shady going on. Just people making side money. If people are renting their places out exclusively instead of living in them, then yes,that’s a problem. However, if it’s just for the occasional weekend or holiday, then who wouldn’t?
Exactly. There’s a not-unsubtle class warfare vibe in this thread. Rich people are out gaming the system everyday, and no one ever does a thing about it. But the second that some poor schmuck tries to do something to pay the rent, they get tarred with the welfare Queen in a Cadillac image. It couldn’t be more wrong.
People should live where they can afford to live. There are plenty of good neighborhoods in the five boroughs that have the same or lower costs to rent than these buildings. If you want more housing for middle and low income people, change the zoning laws to allow for more supply of housing. In America, no one should have a right to taxpayer subsidized luxury waterfront housing. Shameful.
I think it’s unfair that the low-income people have to prequalify every year but the moderate income people don’t. They should have to qualify every year, and if the extra income from AirBNB brings them over the limit, then they get booted. If the extra income keeps them within the guidelines, then who really cares what they do with their space.
Joe makes reasonable points. It’s important to remember that market rate towers in NYC also enjoy generous taxpayer-funded subsidies and tax relief — everyone in NYC is a moocher on some level. Much of the discussion above is just rage against working and middle class people from Fox news viewers. It’s their apartment and they should be allowed to do anything they want with it within certain legal limits, as Joe says. But this envious pitchfork waving and dog whistle blowing is really uncalled for and sounds just a little crazy.
That’s the problem, they are not staying within legal limits. You know like their lease.
Why does it bother you so much? Are you really concerned about someone breaking a lease or does it enrage you that someone lucky enough to get one of these places is able to rent it out for a night or two a month? Suddenly everyone is acting like Eliot Ness on this site. As long as they aren’t turning their apartment into the Plaza Hotel, who cares what these tenants do.
It’s not their apartment. They rent it and terms of the lease prohibit it from turning it into a hotel.
Airbnb has allowed me to experience places around the world on a budget. I probably only would have been able to take less than half of the trips I have taken in the past few years if my only option was to stay in a dirty overpriced hotel. It has also allowed me to spend more on the local economies I visited. This is great for our local business. Tourists who rent apartments in LIC support out local economy and help to keep apartments rented.
I once had a neighbor who had all sorts of people traipsing in and out of her apartment at all times of day, and I just assumed she was a hooker or drug dealer.
Air B and B beats Craigslist for finding an apartment renter, and if I can get cash to cover cleaning (my time or a maid) and other expenses, so be it. What is the city going to regulate next? How many friends I can have? .
The only people I charge are my in laws. Luckily they can only afford to stay one night per visit. Please do not tell me that I am doing something illegal!
‘Oh, they’re just an old French couple I happen to be very close to.’ I imagine this is a sentence used by many renters LOL
I’ve rented out my apt 4x, on occasions when I was out of town for extended periods. I can only get away with it if it’s done discreetly (word-of-mouth) and infrequently. On the flip side, I’ve stayed in AirBNB’s across the US (8 total). Every experience has been positive, and in a couple of instances, I saved hundreds of dollars compared to my hotel options!
If someone is renting out their apt or room, multiple times a month, consistently over the course of a year. such that it supplements their income to a large degree. you’re basically running a business. and should probably be accountable for taxes/fees of using your apartment as a hotel. that being said. raises a lot of issues, that are mainly harmless. but still no less issues. safety, accountability, liability are chief among them.
I’ve never used AirBnB, but it’s good to know I have the option. The burden placed on tenants in this city is absurd.
A guy in my building constantly had AirBnBers and couch surfers in his place, and it was a nuisance to everyone else. I’m sorry, but I actually like to know my neighbors and who’s coming and going. Stranger danger!
Short term rentals, and the websites that offer them, are not going to disappear, and companies in the business are trying to change the regulations. There is a big push to make it easier and perfectly legal to rent out your place in NYC. As a renter and Airbnb user, i am looking forward to the changes.
If they do that, large companies will purchase apartments and rent them out making it even harder and more expensive to buy and rent in NYC.
It’s not illegal to rent a room if you are occupying your apartment at the same time and all parts of the apartment are available to the paying guest.
I live in the area and i am very concerned about this issue. I know my neighbors. I know who has keys to my building. I do not want to live in a ‘hotel’ with all sorts of folks coming and going. I raise my kids here, and the last thing I want is reveling vacationers when I am trying to sleep. This is an issue of both security and peace.
On what grounds are these allegations cause for eviction? I can see why people are concerned but what can a landlord or managing agency do other than send a warning notice that tells them that they are perhaps breaking lease terms? I assume that rent will be adjusted based on their future income taxes because they are living under Affordable housing.
Interesting dilemma. I do not know what the law or the lease states when it comes Affordable Housing in this particular circumstance. However, landlords generally have no right to restrictive guest policies (including paying guests) and nosy landlord practices can be an invasion of your privacy. Extreme behavior in this area (whether by an owner or a management employee) can be considered an invasion of privacy for which you may sue in small claims court if gentle persuasion fails.
I do not live in the affordable housing unit however, that is why i only rent out my apartment to family friends, my friends from out of state, friends of friends or trustworthy on line acquaintances. They pay cash and Its safer. Guests can always tell neighbors and owners (if asked) that they know me personally and just visiting. It really helps with the high rent I pay.
I hope they learned their lesson. When you are trying to rent out and advertise your Affordable housing apartment…Do not post address’ on line and do not post pictures of the building outside! LOL
Don’t get your panties all in a bunch!! There are 925 units and 3 or 4 ads (maybe more) on some site which will be dealt with! If your paying too much for your overpriced “crap box” of an apartment then its on you! Lets not blame it all on the concept of Affordable housing. Most of us would do the same if we could!
Who is blaming it on affordable housing? The issue is that people are abusing affordable housing. I am glad you are so glib about defrauding your fellow citizens, violating laws, and being a generally mendacious individual. Great to have such a fine, upstanding individual as a neighbor.
Do you want our taxes going towards the city hiring more administrative staff to do door-to-door checks to figure out who is making a few bucks on the side vs. who are flouting the laws?
Make the fine 1 year of rent and it will pay for an intern to review a daily digest of Airbnb listings vs rent modified buildings. Really, in 2015 a computer can do 95% of the work. Heck, one call from City Hall to Airbnb blacklisting certain buildings would get it done, because Airbnb doesn’t need to pick another fight with a city.
Capitalism at its finest!
If the people are renting it out just for Thanksgiving or Christmas there’s nothing wrong with that. Whether one lives in affordable housing on Center Boulevard or not.
Technically it is an illegal sublet. When you rent, you have to abide by the terms or your lease.
So many renters do that and landlords know it…If you pay your rent on time and as HP stated not make it a weekly thing which landlord in there right mind is going to waste his money and time and try to evict you! Evictions can take months! and you still must be warned before any action can be taken.
So, laws are optional if difficult to enforce? Sorry, but no. If you violate your lease, you should be evicted as a matter of principle.
Tis the season for couch surfing. I agree HP!! Just do not post it on line and be smart about it. No state or city law requires renters to tell their landlords about visitors (paying or non-paying). I would though ask visitors to stay away from common areas (laundry room, gym, etc.) when you are not present. That being said, a normal number of guests is totally allowable. And if a landlord demands to know who your guests are it could constitute part of a claim of harassment.
I have been looking for an apartment for Thanksgiving for my family visiting from the West Coast so they can stay close to me and their grandkids in LIC. I wish I had more options, the hotels are crazy expensive and there is nothing really close to Center Boulevard. Now it looks like they will not be able to stay close to us.
There are still plenty of apartment in the area. Try Airbnb, VRBO, HomeAway, or RentLikeAChampion. Good Luck!
Fair enough. I can see both sides. However, I don’t think this is a fair article because based on THREE supposed airbnb postings, none of whom the writer seemed to be able to get in touch with to verify details. Based on that, Christian Murray made sweeping generalizations to the almost 1,000 families living at Hunters Point. To say that residents are “ripping off” LIC is inaccurate, and quite frankly, irresponsible journalism. This vocabulary manufactures outrage over a very common practice of renting space out when it’s not in use. Yes, it would be pretty ridiculous if people were renting out more than they were dwelling in those apts, but if it’s for the occasional weekend, I don’t see anything wrong with that.
No sub-letting should be included in every lease if a property owner wants to protect his or her investment.
From what I understand, a tenant can sublet out their apartment- indefinitely- after they have lived in it for a short period of time. Applicants are on waiting lists but what’s the point if current lease holders can hang onto the apartment for life?
Kick them out of their “luxury” apartments. These people have no shame.
In a recent article I mentioned how shady the process seems. I know people who make a good living, 2 income families, that moved into that building recently. Many of the “lottery winners” were already in other expensive buildings in the neighborhood. Somehow I don’t think these apartments were meant as a cheaper option for wealthy people.
@BrooklynMc. I have never seen such a grown up cry baby..you cry about your cousin the plumber making more money than you..it’s the unions fault…you don’t win the lottery it’s the systems fault. You should be making more than others because you received a college degree…you’re nothing but a cry baby who has this huge sense of entitlement. good riddance you cry baby.
Bzzzz. Flies on sh!t again. Bzzzz. So annoying.
The entire concept of government rent subsidized luxury waterfront housing is outrageous. The government is picking certain people and making taxpayers pay for the to live in these buildings. It is idiotic and does nothing to affect the overall affordability of living in NYC. If only we had serious, intelligent politicians who don’t pander to special interest loudmouths.
Socially engineering neighborhoods. And apparently you should feel honored to pay for it too. Hard work has been replaced by hand out.
I had to do this when I was laid off.
Investigative journalism! Let’s have more of these pieces!
Why do low income families need to have waterfront apartments in the first place ? I support Low income housing but not in a luxury building overlooking NYC skyline … Am I missing something ?
This is actually a mixed income building with families making an income from 18k-224k per year. Most (not all) of the waterfacing apartments with the best views go to those with the higher income who are paying the most. Most (not all) of the views facing the east, or towards other buildings are lived in by the low income group. If you and anyone else under this article is interested I encourage you to go to the citi-data forum on the HPS lottery and see just how many moderate-high income people in this lottery would not take a certain apartment because it had an undesirable view. Why not invite low income individuals in who may just be glad to have it and get out of a rough neighborhood where “low income housing” equals poor conditions or violence. For the record I am in the moderate income group with a great view and I am fine with this building being of mixed income levels. However I do not think people should be posting them on these sites trying to make a huge profit.
The vast majority of residents in these buildings are not low-income families but middle-income households. They pay rents that are maybe 20% below market rate. You can see the breakdown of income requirements and rents here: http://www.hunterspointsouthliving.com/qualifications.aspx
No. You are not missing anything. You are one of the few with their eyes and ears open who understand that these two buildings are ridiculous. I too support housing for people who need help, but to give them waterfront property, one stop from midtown, on a beautiful park, with floor to ceiling windows and 2 blocks from the subway is preposterous. I have been called “jealous” for saying that on this site. Jealous is not the right word. It takes the wind out of hardworking middle class people that are struggling here but don’t get help. Life isn’t fair, I know that. So, I am moving on. To another state.
@Brooklynmc Another that just couldn’t cut it.. I knew you would soon be run off and lacked what it took to make it in this city. I saw it in your posting wars with Joe, Saber and the rest. You just don’t have what it takes and that’s exactly what was posted about you under a previous article. So long loser.
Oh no! A troll that makes his best friends and spends every day on a small community board comments section just called me a loser! I will have trouble sleeping at night. You guys are like flies on sh!t.
What does that make you?
@BrooklynMC Every time I see a post from you, you appear to be getting dumber and dumber. Now you’re insulting and accusing somebody for doing something you are doing. No wonder you don’t use your name in your handle. Do you really need to ask people why your life is such a struggle in NY? The only good thing about you is you’re sparing your family public humiliation by remaining anonymous. Hopefully you move out of state real soon. We have enough shameless idiots.
Ah Mac…classy as always.
Interesting way to look at it. Does this mean that low income residents don’t have the right to live in a pleasant setting? By those standards they would also wear rags and eat garbage while living in a dump? How kind.
You read the post about the guy paying $2500 for a one bedroom and the rest is being subsidized by tax payers when he said he brings home 5k a month? you want to keep up with the joneses please do it on your own dime.
No, low income residents deserve to have the housing their income and only their income allows them. If that is a cardboard box, tough.
Need no welfare state… Everybody pulled his weight… Those were the days
We are all struggling to pay our rent in NYC. In all other cities in the US this whole story would not be an issue, only in New York…
You’re absolutely right Ella, a quick look at the woman’s Air BnB profile indicates that this is a one-time holiday weekend rental and not a long-term arbitrage. Why shouldn’t she, or anyone else on Center Boulevard, not be able to take advantage of our great apartments on occasion?
Because she is living in government subsidized housing? And profiting off that subsidy? It’s against the law.
I totally agree!
I have been applying for housing in NYC for years and was luckily accepted into this one. I still pay about half my take home salary for rent so YES the rent is being subsidized by the government, but NO it’s really not as much as you think. I think only about 20% of the apartments are slated for low-income residents and the rent is still a good chunk of their income.
If you look at market rent down the block, residents are MAYBE saving a few hundred (if any).
Compare it to what residents here have to still pay:
The airbnb issue is a greater issue for the city as well as on a more global scale; it is not limited to the “scammers” living in subsidized housing.
As far as I’m concerned, I am still paying $2500 for a 1br, so I should be able to rent it out like half of America occasionally…say for the holidays. As long as residents are renting out sparingly, it is not a big deal.
You are completely right Barry! I too got a apt in Hunters point BUT let me be clear is not ” Affordable Housing” The only reason I decided to move there is because all the units in this building are ” Affordable Housing” I think is the only one as far as I know in this area, So the rent they say will not increase( hopefully ). I have read that there seems to be already problems with the other buildings that are mixed with low income and market value tenants.
-Troy You have read “there seems to be already problems with the other buildings that are mixed with low income and market value tenants “. Either there is a problem or there is no problem. Please provide some details such as directing us to an article or providing some details of ” a problem”. Thanks for the piece of Fox journalism.
From first hand experience as a tenant here, let’s just say you’ll get a mix of refined yuppies to trash neighbors who don’t clean up after themselves (IE: curb their dog), can’t sort their own garbage for the life of them even with signs that have pictures on them, leave their apartment door open so they can blast salsa music into the corridor, etc.
For Coops and Condos it makes sense to be able to sublet but rentals don’t belong to the tenant so it’s not theirs to sublet.
The government subsidizing your rent, it’s the people. Our tax money is paying your subsidies to make up for the rent you “can’t afford” to pay yet you can afford $2500 for a one bedroom? Maybe you should go look for a one bedroom the rest of us don’t have to pay for.
There is no one bedroom in 4610 for $2500 a month. Our studio is $2675. Get your facts straight about the other rental buildings. It is the most affordable building overall of all those on Center Blvd.
We live at 4610. There is no one bedroom for $2500 in our building. We pay $2675 for a studio. Get your facts straight rather than just google searching. You were lucky to get into the most affordable building overall on Center Blvd. Most of the “rest of us” also applied, but did not win the lottery and will pay about $800 a month more in rent for the same thing and be at the mercy of TFC rental increases.
The new American Business model. We already substidize corporations like Walmart, McDonalds, Staples,Dominos, Pizza Hut and Sports Authority with programs like section 8 housing, food stamps, WIC, Medicaid etc.. So corporations don’t have to pay a fair living wage and get to keep greater proportions of the profit going to the top. So why is anyone really surprised?
Kick out this guys so people who really need it can be called.
They should kick them out and let me in. I applied to that 3 hours after they made that building available!
Someone pls explain how $2000 for a studio is affordable??? No wonder ppl are trying Air bnb!!
To think I got passed up… I was told that I wasn’t eligible because they incorrectly factored my pay as more than what I make and was told they wouldn’t fix it. Great system they had…
Tenants receiving rent stabilized rates should absolutely, 100% be kicked out if they’re caught placing their units on Airbnb.
Haters gonna hate!!! I’m sure they just trying to get their rent paid. $2500 affordable but some may still struggle
Some people who received subsidized apartments own apartments in LIC.
Yes- and they rent those condos out and rent at HPS, at a profit. And it’s not just one person. I know multiple people who own properties and still qualified at HPS. Yes, Mr. Van Bramer. It is outrageous.
The fact that residential property ownership does not exclude someone from affordable housing is insane. The people doing this should see serious fines and/jail time.
The lady who owns the $800k apartment we rent recently moved into one of these buildings. Meanwhile we were disqualified. What a world, what a world.
My husband to be, & I were also disqualified from getting into 1 of these unit’s, we are both legally disabled & have payed our share of taxes, citizen status, & not even a Jay walk ticket, or anything else, wen we worked we busted our selves to our skin/bone. We currently live in a walk-up 5 th Floor, we both have knee, back & spinal cord issue’s & we were turned dwn. Because we’re over by $235, part of which is deducted for Medicare dues, money we dont even see. We did everything they asked us to do. Only to be told we dont qualify, because we are over d income guidelines for the aptmts. Meanwhile they are renting apts to people like this!!!! Someone who hasn’t even started to pay her dues to society taxes, & probably is not disabled!!!! Where is the justice???? I ask Related to reconsider us for an apt. Law abiding people who need an apt like this. May I add I have been living in the same apt for over 40 years, and never ever would consider to sublet it. We are disabled people who suffer day in & day out, walking up 5 flights of Stairs. Where is the justice? Or does it exist????
The woman who owns your apt pays property tax, so why has she not even started paying her contribution to society…? And whatever money she had to purchase the apt was presumably taxed at some point?
Your benefits are probably more than you paid I to the system. Most of us aren’t receiving disability, so stop complaining that benefits out you in too high of an income bracket for public housing. Illegals aren’t getting these units, so your citizenship is relevant why? Because you should be first in line ahead of green card holders? There is just so much wrong with your post.
Listen, Ill agree that politicians especially the republicans try to play the you or us vs. them card, whether its middle class v. the poor, private employees v. public employees, lower middle class in suburbs/rural areas v. the poor by playing the religion card, the dems use the super rich v. the barely rich (ie, warren buffet v. the family physician making 300k before overhead and medical student debt with little assets are both the “1%” who dems claim don’t pay their fair share when with nyc tax they probably pay over 50%)
It goes on and on, public housing tenants,v. market rate v. rent stabilized, so you have a point however the person above makes sense of course lotteries are unfair anyways.
For instance, illegal immigrants are entitled to housing subsidies , granted one person has to be legal, but in many cases you can be undocumented. Two, yes many social security and medicare folks get back more then they put in which is ironic since many seniors vote republican. However, a man who has average earnings of say 50k with a stay at home wife (its gender neutral but usually its more common than stay at home dads however children are not a requirement in this scenario) gets 50% more ss benefit then if both husband and wife or a gay/lesbian couple would have roughly equal average earnings, this is because the husband would have a primary insurance amount of 2x with an additional 50% for the spouse, in case of roughly equal earnings there would be no spousal benefit or litle benefit because ss gives you the higher of the two.
Yes, I agree with the reply that the whole we pay taxes, you don’t is silly, I mean do you pay for the free roads you use, what about sales tax, or tax-exempt things, if you use medicine that’s tax free the person who doesn’t subsidizes, yes the landlord probably pays a lot of property tax, oh so now churches get tax breaks, let tax them.
I too know of a couple doing same. I find it incredible that ownership of another home was not an immediate disqualification in the application process. Instead, I believe these people were given preferable treatment for living in the area. Although I don’t agree with the process, I don’t blame the ppl doing this as they are simply playing by the rules. Hate the game, not the playa.
If they are playing with the rules can’t blame folks, folks get tax breaks all them, you bought your house 30 years ago, you get a tax free capital gains exclusion of up to $500,000, so if your home was $50,000 and its worth $550,000 lucky you made $500,000 (if you factor inflation its more like $300,000), but if you bought a home for $500,000 30 years ago and now its worth $1 million, you are lucky too right, wrong, you can nothing wait ,how can the irs tax money I lose.
Well with inflation, your $500,000 is now worth $1 million, so no tax break. Let’s say you bought a house for $750k and now its worth $1.5 million, you lose, with inflation you didn’t lose money on the home but the irs will tax you $250,000 gain, so with 50% tax you pay $125,000, thus you lose.
You mean people that milk the system also scam it? In a related story water is wet.
*smile* Great post!
These people have no shame. Taxpayer dollars subsidizing their profit scheme. Meanwhile, families that would actually use the housing as permanent housing are forced to go without.
HP isn’t government subsidized housing, it is rent stabilized housing. Your taxes have no bearing on rent stabilization.The building owners – Related — get a tax rebate in return for offering rent stabilized housing. They do so because when the original tenants move out and they can raise the rents to market rates. It’s an investment opportunity for the developers and a good deal for the tenants — even if not technically “affordable” to many of them at first. Your tax money isn’t in the picture at all.
False. The fact that the developers got a tax rebate means that other taxpayers are affected. The tax rebate was intended to provide rent stabilized ‘affordable’ housing. Without the benefit it was intended to provide, the rebate reduces tax revenues for the city and increases the burden on regular tax payer.
Not necessarily, in many cases the developer is simply allowed to build more “market rate apartments” due to zoning changes in exchange for more affordable units. Even in cases where developers get a tax credit, because the city of new york has so much high taxation, business often wouldn’t be conducted without tax breaks anyway, so no the regular taxpayer doesn’t really benefit.