ONE MORE WAY LANDLORDS CAN BLEED US - Reader comments at The New York Sun

Submitted by ANONYMOUS, Feb 15, 2007 02:07

This rule is arbitrary and often discriminates against those who are retired or on some form of disability income. It uses gross or pretax income instead of using aftertax income, which is what you use to pay all your expenses. It also ignores your liquid assets, from which any sane person would draw to help pay the rent if necessary.

The city should pass a law to force landlords to alter the formula down to a max. of about 30 times the rent AND define "income" as aftertax income only. This would make rentals much more affordable overnight, with only minor increases in evictions...

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Other reader comments on this article

Comment	By	Date
So is that actual take home pay or a person's total annual income before deductions? [MORE]	jimkk	Feb 15, 2007 13:44
This article makes it seem that you must moake an outrageous amount more than rent. This, however compares yearly income... [MORE]	Jacob	Feb 15, 2007 12:31
Here's a real life, bitterly painful example of how the 40x the rent rule squeezes a secret "rent increase" of... [MORE]	ANONYMOUS	Feb 15, 2007 11:59
In Brooklyn you can usually avoid the 40x thing. In my experience I've only seen that in Manhattan. [MORE]	Arkadius	Feb 15, 2007 11:38
2500/mo rent, must make roughly $120,000 a year. Frankly, I'm moving in soon and if I find out people are... [MORE]	cheap bastard	Feb 15, 2007 10:47
The extreme nature of the cost of living in Manhattan is not just relegated to the landlord's fees. Cheap Bastard,... [MORE]	Vassar Girl	Feb 22, 2007 19:30
This rule is arbitrary and often discriminates against those who are retired or on some form of disability income. It...	ANONYMOUS	Feb 15, 2007 02:07