Word: landlords
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Dates: during 1980-1989
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...Landlords have always been permitted to petition for additional rent increases where documented increases in costs or capital improvement necessitated additional income to maintain a fair net operating income. No landlord can legally be denied a fair income, regardless of a tenant's ability...
...costs? When pushed, Walsh has pointed to the expanded opportunity for homeownership made possible by vacance decontrol of 70 percent of presently controlled units. Clearly, a prospective resident or an absentee owner with a downpayment and an income large enough to carry a huge mortgage can benefit. Clearly, a landlord or a condominium developer can benefit as rents double or triple to market rates or condos are sold to the wealthiest buyers. Clearly, the real estate brokers can benefit as market rate rental units will double in number and/or condos are sold with ensuing broker fees...
Enter Frank (Chris Haywood), the gruff voice of experience. Fresh out of prison, he is anxious to concoct a new get-rich-quick scheme. Malcolm needs a broader. Frank needs an innocent, unsuspecting landlord. A match made in heaven...
...adopt rent control in 1970, when inflation and rising property values led tenants' groups to lobby for the policy. The City Rent Control Board sets rents for 17,000 Cambridge housing units, using a formula that accounts for operating expenses and what it considers a reasonable profit for the landlord...
...right of first refusal running to the City so that they may be purchased at a price equal to 10 times the adjusted gross rent. Adjusted gross rent shall mean the rent-controlled rent minus the sum allowed for heat, hot water and other unit utilities provided by the landlord, if any. The money to make such purchases shall come from the City of Cambridge Fund as well as public and private sources. Nothing herein shall prevent the City of Cambridge from selling, on a limited-equity basis, dedicated units to qualified persons...