New-York tribune., 1901-05-20
TO REMEDY ABUSES.
EFFORTS BEING MADE TO ELIMINATE
CERTAIN EVILS IN APARTMENT
HOUSE RENTING.
HOUSE RENTING.

Although the several attempts recently made to
organize an association among the uptown real
estate agents and owners of apartment houses for
the purpose Of bringing about reforms in the pres
et demoralized condition that obtains in the rent
ing OF apartments were failures the men identified
with the movement are more determined than ever
10 establish the proposed associat ton. Missionary
"ofk Is belng vigorously prosecuted by a few Of
the leading real estate brokers' and no effort will
be spared by them 10 accomplish their purpose
Now that the dull summer season is approa-,inz
there viii be more leisure the command of these
men 10 advocate their cause. and il is their inten-
ton TO call another meeting before long with
view 10 effecting an organization
60 far there has been lack OF unity among the
representative real estate men and some distrust
oi 1hose who took the initiative in the movement
As soon this is overcome greater unanirnfrv of
action is looked for. Jesse c. Pennett Paul 1ave-
and r. b McCotter s5e among the most earnest
champions OF the reform movement. and each one
% tlese men mas large following OF property own
eTs supporting him IN the common cause
Paul Mayer. IL speaking OF the necessity of bring
ing ABOUT reform of the existing evils. said TO a
tribune reporter yesterday that the time had come
When he would not recommend the purchase % ar,-
apartment house for an investment unless tba
owner would make affidavit OF the genu-
ireness OF the alleged rentals and leave deDosir Of
al le2st per cent Of the purchase price with
trust company for given period TO be forfeited n
lAe purchaser in case Misrepresentation are dis
covered after title has been passed We -rust
aoopt extreme measures, said Mr.. Mayer "to re
store confidence among prospective investors and
Drlng about q healthier condition OF the r,arka,
Impecunious and irresponsible builders mus he
weeded out OF the business II the reputable raa1
estate men and honest builders will get together
and let honorable principles regulate their con1,,c
the market and values Will soon be restored or n
sound and healthy basis But IL on the o,bar
hand. the present practices are continued -,,cA
longer. and the prevailing condition Of a4aire Sc
not reledied. there will be more foreclosure alss
within W hin The & next six months than there have been
Ne Nr.rl-F
- iou co hot think, then, that overproduction Is
's .s-5-s ia rse 20, ot me existing evils
49, a5Cy 5 IA aLhs any good house II the rents are
great many builders place fictitious rental value
schedues OF rent they make leases thar do not
osaF ty H-TeSugaton- In my examination Of prop
practices all done with obvious Intention of d.
that came under nv 9otice ,,er IA recent case
mouse was surrepttiously receiving a rebate ~ r.
month from the landlord. There was a differ
ence Of $620 a year between the alleged renrs and
, cne aSt9al & rents Had the prospective buyer ac-
ea ~ q me owner R rs concentrations, he would have
atI,a ptu a. ss soO more for the property than the
deliberate fraud If we get our pronnseS So ~
cation properly organized can put a stop TO m
importance to the remit tIe dI IG Is OF as much
as II IS 70 real estate brokers. Both will be
p6Wer aDS gfea s,acy 6y 1t H. and as the result Of its
come INTO the market with the perfect assurance
Ia 1t he m VIII hol be ouylns any gold bricks. I
prise. but also believe in securing for the in
money" 1911 O4i i'i9
Jesse c Bennett expressed great disappointment
al ihe failure OF the efforts that been made 10
organize a association
II an association cannot be formed" he said 7
VIII night the existing evils single handed if neces-
sary. am not giving free time to any tenant
IN the houses that l control. and am not going IA
propose TO protect the investor in every nossiha
way, and a builder who wants 10 sell his aDart-
ment house through my Office must be abie "a
snow an absolutely clean bill of health If his rent
ron IS any way padded, there is the sIigbresf
suspicion Of his having resorted to the PREVAILING
practlces IN securing tenants. l will not recon-.
eVil Is working havoc 10 brokers well IS own
ers ana builders. and the sooner a reform is
brought about the better II will be all around
believe II We can start an association with TWEEN
ty-flYe representative brokers and ffty relia HE
builders and owners. thereby controlling about TWO
hundred Of the better class OF buildings we can
virtually control the situation and make the rasf
come into the association ~