Sentences with phrase «subsidizing other apartments»
Landlords of rent - regulated buildings, however, rely on raising rent 20 percent in vacant units to recoup the losses they have acquired by subsidizing other apartments for years without adequate rent increases, according to Frank Ricci, director of government affairs for the Rent Stabilization Association, which represents landlords of rent - regulated apartments.
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Others illegally rented out subsidized apartments to friends.
The report focuses on four rental categories: Market Rate Apartment Complexes (20 + units), Tax Credit Apartment Complexes, Other Market Rate Apartments (1 - 19 units), formerly «Multi-Family Units,» and Subsidized Housing.
Across the U.S., in the decade before the crash, developers finished an average of about 132,000 apartments a year, according to a tally from Reis Inc., that includes institutional investment quality properties, but not government - subsidized affordable housing or other non-investment-quality multifamily.