Some luxury buildings in New York are causing a stir by excluding rent-regulated tenants from accessing amenities, according to a New York Times article. Tenants in buildings where this is happening see it as a tool for developers to encourage tenants paying the lower rent rates to move elsewhere, allowing them to rent out more apartments at market rates. Developers, on the other hand, defend their decision, saying that providing the services to rent regulated tenants could create complications for them, like potentially having to further lower rents if they choose to remove amenities without getting permission from New York’s Division of Housing and Community Renewal.
Developers are also arguing that the amenities, most commonly gyms, are being built for the sake of attracting full rate renters, which justifies excluding lower paying tenants. Some buildings are avoiding the issue altogether by having rent-regulated tenants pay the same annual fee to use the facilities as tenants paying market rents.
Read the full article at: https://www.nytimes.com/2014/05/18/realestate/rent-regulated-tenants-excluded-from-amenities.html?_r=0
