New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-03-23
EXORBITANT RENTALS.
cp.sPING LANDLORDS MAINTAIN RATES
DESPITE HARD TIMES.

REACHING \ LOWER LEVEL IN PRICES,
RENTS roe HOUSES AND FLATS RE-
Ml1N UNCHANGED. AND ~
SOME CASES ARE TO
BE INCREASED.
The tendency Of the present time is toward
$50 ,evol Of prices in all the various necessares
:, NO which come within the circle of trade. The
sd times have brough; about a general reduction
d, limos. every commodity. in investment sccr:r-
ETC. and IN the various other properties which are
h,ycbt and sold. Three important items In the ex-
no,eo account are coal. gas and rent and probably
,t mos, important of these items which has to be
oo,sidorel in ones living expenses is rent So far
thorc has been no evidence in this city that rents
,, ,o made 10 suit the times At least. this is
9, IN opartment- houses. fats and small houses
rh,t the rents in this city OF fats and apartment
bouses are too high no one hestates to say. and
w., tbev ought 10 he reduced at once is the sent
mon, of every man who has dealings with grasping
,e,d,orls No one expects that the large apart
,a,, houses and fats that occupied by people
Who can AFFORD exorbitant rentals Will make any
r,lucti5n either account of the hard times or
O, account Of the tendency which is towards
,ousr level Of prices but people do expect, and
,,reoycr +, is their right to expect that the houses
occupied by people Of moderate means shall be
rented at moderate prices.
TIE ACTUAL STATE OF AFFAIRS
or The people who live in New-York. 10 per cent
orcunv rented houses The renting public for years
has been the victim of despotc landlords who have
made their terms only one consideration. the
one that would increase their revenue the most
There Is hardly landlord In this city who does
MOI make his rentals at figures away above the
actual worth of the building TO the tenant. There
IS hardly a landlord who does not clear from his
rentals in a few years an amount OF money equal
to that originally put into the building, and there
is hardly landlord who does not squeeze his
tenants in order get back his original outlay IN
the quickest possible tine taking nothing into con-
sijcratjon but his own selfish greed for money.
Just at present there is a small hope that tenants
Of apartment houses. fats and smell houses can
bring the Of the property to the point where
concessions Will be made. The renting public is
looking about for lower prices and If it cannot get
what 1t wants in the city it will so to suburban
towns. Real estate agents report that there IS
great hesitancy on the part Of tenants 10 renew
their leases unless concessions in the rentals
are made. They also report that many people who
have been paying exOrbitant prices for flats have
viii move out Landlords in some cases are taking
these facts into consideration and are promising re-
ductions
BOAST OF THE LANDLORDS.
Landlords coast that while every source OF
revenue has been depressed rents have held their
own. People who have been doing business at
loss in the main the people who occupy fats
and apartment houses. The question Of rent to
them is just now paramount one and one that
lords are not assisting them. they merely howl
Ing for higher rents Owners in many instances have
by equitable reductions. but they have in
increased the rents from May !. and in other cases
Small hoasss, that rented last year. for N,ooo'
stances at $3.50 Small has winch rented la; year
IN certain districts for so $50 so $50 and higher
instance. There are some owners who have the I'm
pudence TO say that by leaving their rents for next
year the same as this they will he doing their part
toward relieving the strain upon the tenants pocket
book hThcy eonsder Tat If they let one year go
noble and magnificent concession. The asnine SUI
city TO suburban towns man can rent house
in the country for One-qudrter of what he would
be clearing, expenses and making profit If be
would put his fat rent at the same figure as.
The majority OF peop.e would prefer to live IN the
city rather Than in the country. but they are pre-
pected here.
WHY RENTS SHOULD COME DOWN
The hard times and the general reduction In the
price of almost everything necessary 70
mans welfare is in itself the greatest argument
that can be made for lower rents in the flats ard
apartments whore people of moderate means live
but another reason that has just 20 the front
Is the determination Of the rarn Association OF the
big reduction IN fire Insurance rates on flats and
apartment houses. II landlords would knock of
will knock off from their rates, there would be a
material difference in the tenants pocket-books The
time the question OF rates on fats. and after pro-
tracted dicussOn it has decided to make a general
feduction In some Districts ii viii be greater than
in others. but in all it Will be large enough stop
the ceaselesS ciy Of the landlords against fire insuf
ancc rates. Some time the rates for Insurance
we're raised by the Tariff Association on all forms
property. The object Of the association is 10
alse rates ana to maintain them. but IL has found
That II can reduce the schedule for fats and apart
ment houses without causing q material loss 10 the
Companies
FIGURES SHOW ENORMOUS PROFITS
The records OF the Department OF Buildings show
that more than ten thousand nat-houses and tene-
nent-houses We're built IN the city dGTfnY the ten
years previous 10 lStG Last YEAR the number Of such
buildings erected in the city was only Co., The depres
son IN business having stopped many building
OPERATIONS IN the latter port OF thc year a large
HuiaOcr OF Inc newer nat-hOusrs have been erected
On me Sues Of Old tenement houses but there
now IN the city upward Of thirty thousand tenement
SSo ~ "+ i We're standing more tnan ten years
tween S7cD and 1900. The Insurance on lighthouses
''l' tthe!iien,-nouses built In the city since 1892
"iar,gyulSs 70 considerably more than Sij1c00c10.
mere mas b'cn a gradual change in the character
oI .he max ana tenemcnt-houses within ten
rcqureHeits OF the building laws IN 1888 taer wCre
puis IL TINS city 55 lighthouses, Il ttI esfiua Ted
COSt OF >idJS,3.J. and sSG tcneme III houses which
were estimated 10 cost 80 3g6. 200 In the following
!eh ~ hat-hCuses, costing $685. 800. and Ol0 ton
eileht houses costing 81 9J2 100 were built In th9
CITY Fiat- houses erected In those years cost about
S.hVD eacn IN the average, while The average coat
OF ten"men-house about Si4nC0 Tho ul,n
OF DullIns more lighthouses ard fewer tenement
nouses nas pc.h .ooMed lately but there has been
were built 81 hat-houscs, at a total coz; ~ ga
b2i,JvV or about $-i,OtJ a house and o. tenement