Can rent-regulated tenants make buildings more attractive to prospective buyers? They sure can, according to the cover story in the real estate section of yesterday’s Times. The article examines the pluses and minuses of buying a property that comes with rent-controlled or rent-stabilized tenants in tow. A family that purchased a four-story brick house in Carroll Gardens for $1.5 million, for example, found that one big plus was a price tag that was about $1 million less than it would have been if there weren’t two rent-controlled apartments on the top floors. The major potential minus with such properties, of course, is the hassle owners can encounter when they try to give such tenants the heave-ho. (Check out the debate over the situation at former HOTD 227 Berkeley Place.) Any landlords care to weigh in on the pros and cons of having rent-regulated renters? Have any readers taken advantage of the rent-regulation discount?
When the Price Includes Tenants [NY Times]
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