The new owner of a Palisade Avenue apartment complex on the Upper East Side has jacked the monthly rent by $500 and more, creating traumatic concerns for tenants.
State Senator Herron Gaston, see comments and News 12 coverage above, says he’ll look into rent caps in this legislative session. This issue will also be examined by the city’s Fair Rent Commission.
1+
Rent control — a la NYC. Perfect time to push for the rent control option at the start of the legislative season in Hartford. Bridgeport’s delegation can push for something “real” for Bridgeport….
A tenant has certain rights and obligations for an agreement with a landlord for a time specified in an agreement. Changes resulting from property being held by new owners buying from former owners are to be taken into consideration based on new features, positive to the rent payer in any new scheme.
And situations that show new utility obligations by a resident plus a bump in rent is out of order and very difficult in a tight housing market. Legislative corrections take time in a State or City which is delinquent in providing actions that allow posturing by politicians.
Why is Bridgeport more attractive to out of town investors than local real estate investors? Can it be the posturing of politicians who readily agree to interviews but are not active in promoting quality municipal and State governance, including regular oversight of data on properties, values, and “quality relationships” where they show themselves.? We have thermometers which show the actual temperatures 24/7, but where are the charts that show the results and data of homelessness, month by month? Who are the owners and what values represent the tax payments to come to the City? Why are luxury units so available, indicating that such a market is expected, though income increases are not felt broadly at this time? Where are the broader opportunities to transform rental payments into monthly payments towards ownership values more broadly enjoyed by all residents? Time will tell.