First it examines how owners became landlords renting
out their farm in order to weather family crises and hold their patrimony together for the succeeding generation.
Colbert's reasons for renting
the property at rates below FMV were never discussed.
I tell owners that renting
an apartment is like lending your car to a total stranger.
Although the actual guidelines rent increase of 2 percent for a one-year lease and 4 percent for a two-year lease are the lowest in 25 years, a vacancy allowance of 10 percent can also be collected for leases beginning that date for those units renting
for less than $400, while a 5 percent vacancy allowance can be collected for apartments renting
up to $999.
The most important thing is that prices are going up for studios, one- and two - bedrooms," explained Packes, "so people who could buy are renting
, except for the largest category.
99; and nothing for apartments renting
for more than that.
Among the exceptions concerns the vacant apartment renting
for less than $2,000 prior to October 1, 1993, but improvements are made to the apartment which, when added to the prior rent via the 1/40th-of-cost factor would have driven the rent (had the apartment been rented) to $2,000 or more as of October 1, 1993; that rent will be deemed to meet the $2,000 threshold.
Weisz believes apartments renting
for $1,000 should not be protected.
The normal rationales for buying an apartment do not apply for those tenants who are renting
one way below market rates.