The Rent is Too … Well, You Know
The Harmons argued that the rent rules amounted to a government seizure of private property without just compensation, violating the Fifth Amendment. One of their longtime tenants, an executive recruiter, pays about $1,000 a month for a one-bedroom unit, while owning a weekend home in the Hamptons. The couple also contended that the long sustained “public emergency” underpinning the rent controls violated due process.
The Supreme Court decided not to hear a case challenging New York’s rent control laws, so we’ll just have to continue our arguments about the outrageous amounts of money we pay for rent with our friends over expensive brunches and $14 cocktails.
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Previously on The Billfold
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I am moving up to New York in August for graduate school, and oh god, I am terrified of what I’m going to have to pay in rent. I’m used to a giant and comfortable apartment in Birmingham in a beautiful neighborhood that my roommate and I each pay $350 per month for.
@thewurst Sincerely, good luck. Start saving now for first/last/security and OH GOD I hope you can avoid a broker’s fee.
@liznieve Thank you. I keep getting different advice re: brokers. Some say it’s worth it, some to avoid it at all costs. Here’s hoping!