Quoted from mikechristine1

I believe the government sets the rent rates.  Then REGARDLESS of what that rent is, the renter pays a max of one-third of their income the landlord, the government pays the rest.

And of course remember how DV claims landlords are deadbeats if they don't pay the taxes but if the government doesn't pay the landlord enough with which to cover the cost of the taxes and everything else a homeowner has in expenses.

So how does a landlord pay the taxes if the government does not pay enough to the landlord with which to pay taxes and expenses?   (of course, DV would not understand that)

yup....so what is the value of taxes/fees paid?????

Quoted from firefox

mikechristine1 Your absolutely right!

So, here are some FACTS for those who claim landlords are deadbeats and they must pay their taxes.

Here are some financial FACTS.

Person buys a two family house for $100,000 100% financing for 30 year mortgage.

Person does some upgrades to the house, such as put in updated kitchens and baths and loan is $30,000 ( And I can state unequivocally that the FACE is that two kitchens and two baths would cost way far more than $30,000 so we will say this is particle board cabinets)  and is going to pay it back over 10 years at 7%

Coimbined city, county, school, water, sewer, and trash costs are $7200 a year.


The FACT is that the monthly expense to the property owner is follows:

Monthly mortgage (principal plus interest) on a 30 years mortgage at 4% would be just about $500 per month.
PMI probably $50 per month
Monthly cost for home improvement loan of $30,000 for 10 years at 7% would be about $350 per month
Taxes of $7,200 divided up over 12 months would be $600 per month.

So monthly expense to the property owner is $1,500.  (Just an FYI, I have not even included insurance, cost of light bulbs in common areas, installing new locks, purchase of trash cans, recycle cans, etc)

So owner decided $750 is a good rental cost per month.

But upon renting to people  who receive assistance, we'll say that the government decides the rent is to be $600 per month for each flat.  Each tenant has an income of $1,200 per month.  Each tenant therefore will pay $400 pre month out of their own income and the govt will contribute 200 for each tenant.  Thus

Tenant A   pays $400 toward rent
Government pays $200 for tenant A
Tenant B   pays $400 toward rent
Government pays $200 for tenant B

That makes a total of $$1,200 per month total income this owner derives from this city house.  But remember, the owner's expenses total $1,500 per month.

The property owner is IN THE RED BY $300 per month!!!!!!!!!!!

But people like DV claim this is a deadbeat

I don't know what the going rate is for various size apartments.  Does anyone know if it could be as high as $750?  

But supposed the tax bill was $6,000. that's $500 a month. so that saves the owner just $100 a month STILL IN THE RED


For a two family house costing $100,000 for which the owner updates the kitchen's and baths, installs new carpeting, redoes the electrical, the owner needs to collect closer to $850 to $900 per month in rent for each flat.

(Now is DV willing to pay $900 a month in rent IN the city???????   He avoids the city like the plague, won't even put his pinky toe within city boundaries)

Landlords simply cannot get conventional tenants (i.e., not receiving some govt assistance) in the city and that is a FACT in probably more than 90% of the rental units.  

And even a dream tenant might get a job transfer or something and the leaves at the end of the lease.  Then the owner may have to go without that income for several months.

Sure, there are the bum landlords like Popolizio.  But there could be good landlords too but even they cannot afford to pay the taxes they are NOT deadbeats, they just cannot collect enough to pay the mortgage, insurance, and taxes.

So they abandon the properties because the city is making them pay for the taxes for the millionaire political cronies downtown, and the government will not pay them enough in rent to meet the expenses.

And we ALL know that a certain cheerleader for the dems will NEVER NEVER provide any financial facts to illustrate how a landlord can afford to own a house IN the city, nor even how an owner occupant can pay to live IN the city.  

A one bedroom average  (private rental) rate is $700-$750
Two bedroom average (private rental) - 900-950.  I've seen 2BR/1BA for $1100 in nicer areas
Three bedroom average (private rental)- 1100.  Two bedroom and a "den" (in a duplex) is also around 1100-1200 (private rental).


http://www.zillow.com/homes/fo.....4.066048_rect/11_zm/



Where's the profit?

What person, NOT on "assistance" can afford this - other than the professionals in the hospital area?

remove the human from the land and self sufficiency and put into another human's hands and some abstract system and, well,
there we have it.....

it's definitely insidious

The Director of SMHA is politically appointed to that post by Mayor McThug. This is why the Schenectady landlords are struggling to pay taxes. McThug has waged a war on Landlords so he influences the policies at the housing authority against Landlords. McThug advocates for rent control for apartments and he increases taxes and expects landlord to pay the unaffordable taxes. Landlords get screwed all the way around by Mayor McThug.  Then McThug has the saggy balls to go on record and blame Landlords for not paying taxes. Shameless Mayor McThug!

those who control the land control the masses
those who control the legislation control the masses
those who control the guns control the masses
those who control the taxes control the masses

Quoted from senders

those who control the land control the masses
those who control the legislation control the masses
those who control the guns control the masses
those who control the taxes control the masses

on that note todays adolfs birthday....he was the master of control...thankfully look where it got him