Latest posts by Gea Elika (see all)
- The Costs Per Square Foot of Renovating in NYC - April 17, 2018
- What is an Exclusive Listing Agreement when Selling Real Estate? - April 7, 2018
- Making Sense of (FAR) Floor Area Ratio in NYC - March 31, 2018
If you live in the city you’re probably all-too-aware of the sometimes awkward drift that can occur between neighbors in close living spaces (not that our suburban brethren don’t have their own over-the-fence dramas). Sometimes new neighbors don’t see eye to eye, or old neighbors find a small battle to pick at forever. But more often than not, it’s our solid belief within ourselves that we can do no wrong, and that whatever the issue is must be the other guy’s fault. Sometimes easily resolved issues over noise, garbage, children running amuck, or parking can cause two normally nice people to fight in the biggest of ways. And it usually doesn’t stop there. If fights between neighbors don’t die down, they often end up at city hall, small claims court, or in the hands of the police. New York has got to be the worst example of this. With so many people living so close, on top of, beneath, and next to, it’s virtually impossible to like everyone in every given direction. The newest wave of hateful neighbors has come from the recent, if not rampant, condo conversions that swept the city. In large and small buildings throughout the city, people are struggling with the barriers between existing rent-stabilized tenants and new condominium owners. Often the renters have much different expectations from the building, and perhaps rightfully so.
Their apartments are usually less renovated, cared for, and sometimes in altogether bad condition. But a rent-stabilized tenant sees their residence as hardly optional. The low prices that they pay for prized real estate can hardly be matched anywhere else in the area (even Jersey!). Condo owners, on the other hand, are typically more careful with their property. They realize that they are responsible for the value of their property, and most people like to have their equity appreciate. The problem truly lies in the law around renters and owners though; the reality is that renting is a privilege by law, while ownership is a right. A rent-stabilized tenant must be careful to obey the building’s rules and regulations, and maintain a non-disruptive living manner within the building. In this day and age (the age of condo conversions to be exact), it’s not unheard of to have formal complaints filed against a publicly drunk, mean, drug abusing, or illegal rent-stabilized tenant. This can be wonderful for the condo owners, as it promotes the feeling of choosing one’s own neighbors. But for the renting community as a whole, it can be altogether frightening.