Word: profit
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Dates: during 1980-1989
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What a difference today. The schools actively seek the assistance of neighboring business and non-profit institutions. Undergraduates teach and tutor during school hours and in the after-school program. Phillips Brooks House and the newer public service programs channel over half the undergraduate body into teaching, prison work, youth work, helping lonely elderly or the homeless and many other worthwhile activities...
...naturally adversarial interests of landlords and tenants. Fifteen years of regulation have maintained rents at approximately two-and-a-half times those of 1967, an increase which is slightly less than the increase in the consumer price index. This increase can recover normal operating costs and maintain a fair profit in most cases...
Tenants suffer from this presumption of fairness when outrageously high levels of profit approaching 90 percent of the gross rent in 1967 are carried forward to the present. This legalized rent-gouging is a continuing testimonial to the unbridled greed of a few landlords in the "fair" rental markets of 1967. While the tenants paying these rents suffer most, all tenants and the rent control policy suffer as responsible landlords observe a few greedy neighbors receiving huge profits without basis in any rational analysis of the rent. The appearence of "unfairness" most easily leads to pressure to raise all rents...
...households rent, where 40 percent of all households are rent-controlled (60 percent of all rental units are controlled), and where the rental vacancy rate is rarely greater than one percent. In this view, rent control should be both a consumer protection plan and an "expenses plus fair profit" rent adjustment program...
Similarly, a close look should be taken at those properties where there is reason to believe that greater than 60 percent of the gross rent is net income or profit. A change in rent board policy toward adjusting rents on a building by building basis rather than groups or classes of building would address many of the present inequities including the "hardship" cases. This change in policy would require a reappraisal of the "presumption of fairness" in 1967 rents. After moving to an "expenses plus fair income" accounting, a few properties would require sharp adjustments to be within guidlines...