This is a follow-up story on the status of the Advantage Program. The program has been spared for another month, and the affected tenants have until the end of April. While this is an ongoing issue, we must also be aware of another threat to all renters in regulated apartments coming much sooner than most think. In June, rent stablization laws are set to expire. Then, tenants will be expected to pay market rate rents, and landlords not disciplined by regulation, can raise as high as they see fit.
This is a really divisive topic. Reading some of the comments on this blog in late March really has me concerned. There seems to be a social stigma placed on those living in rent stabilized apartments as “greedy” and “entitled.” Some believe that rent stabilization should be done away with. Others believe that it should be available only for a limited time. What is your opinion? Are some people “getting over” with rent stabilized apartments? Or should everybody pay market rent?