Letter: A landlord's lament
If you have an on-site landlord, you shouldn't sign a tenant rental agreement until you've determined whether he or she is someone you can live with. Credit: Photo by Istock
As a property owner with many rent-regulated properties in Queens and Long Island, I can say that your editorial ["Regulated rents outdated," April 3] shed light on some valid challenges faced by many New York area landlords today.
We live in a time when landlords face substantial rises in operating costs. Water, fuel oil, property taxes, insurance costs and required extensive repairs due to the age of the buildings are just some of the astronomical expenditures that many tenants are unaware of.
Hence, it becomes increasingly difficult to maintain profit when the state severely limits what we can charge for secure, clean and comfortable apartments. New York State caps tenants' rent increases at 3.75 percent for a one-year renewal and 7.25 percent for a two-year renewal.
We have always and will continue to provide affordable housing for low-income and middle-class tenants. But many of those tenants often can and should pay more than they are paying under these antiquated regulations. We look forward to hearing the ruling by the U.S. Supreme Court in this very important case.
Tony Subraj, Jamaica
Editor's note: The writer is vice president of Zara Realty.
