The sun. [volume] (New York [N.Y.]) 1916-1920, 1918-08-04

ence. Another house was operated in
1916 at cost OF $4,000. This year the
cost Of keeping the house in the usual
manner Is $4,000, showing an increase
OF Sl,3OO In operation. The total In
crease in rentals in this house last year
over the previous year was $1,000.
From the records Of one of the leading
real estate concerns of the city, which
controls several hundred apartment
houses, small and large. expensive and
moderate priced. II was learned that the
increases in rental asked by owners Just
barely cover the increased cost Of main
tenance. Although this concern has in
creased the rentals in a certain house
$l4O on each apartment, there being SO
in the house, the net return TO the owner
is less than $500. The house rented for
$4,000 In 1915, and last year the rem
tails were jumped to $4,000. In 1916
the cost of operation was sS,S2S, and
last year $13,3s6. which represents an
increase of $4.56S. or more than SO per
cent.
This means that the proporttonate in
crease In maintenance cost to each
apartment In the house was $l27, which
reduced to monthly figures shows an in.
creased expense for each suite Of a lit
tie more than $1,000 As the increase
In the rental was $40 an apartment
the owners profit Is $l3 a year. or about
N.lo a month on each apartment.
Last year property In Manhattan was
taxed at the rate Of $2.02 on every 800
OF estimated value. This year the tax is
s236, which means that the levy has
been increased "a cents on every $500 OF
property value estimated by the Tax De-
partment AS the house referred TO
above is understood to have a valuation
Of 100000 on the books OF the Tax De-
partment the owner will have to pay
$3.50 more this year into the Golfers OF
the city treasury than last year. a for
m,oable amount, one must admit, from
one house. The owner under the cir
cumstances is forced to levy on his ten
ants and he does this by boosting the
rental. The estimates which he made
last year did not allow for such large
!rcrease In property tax and he will find
that the advances demanded last year
will not meet all expenses. AS he has
made leases for a years duration at
EAST, there Is no opportunity for him
making the tenant meet the large tax
increase until after next fall In the
meantime the owner will have to pay
one-half Of his taxes
There is hardly an item which comes
under the general group of operation
which has not advanced somewhat.
Housewives know that brooms cost q |
good deal more than they did last year. |
The last quotation for brooms was 81 10
each. Last year they could be had for
80 cents. and the previous year 80 cents
was high figure for them. The re-
moval Of the contents OF ash cans Is a
minor matter 70 be sure. but in n large
house where much coal is consumed II
costs lot. In 1916 carting companies
were willing TO remove ashes at the
rate OF J cents can. High prices have
hit them also, and they now will not
stir can unless paid at the rate Of Is
cents each. Soap seems a little thing to
consider in the expense Of a house, yet
Ii is an item which runs into big figures
when 1t costs 1926 a box. 1t formerly
cost 1915 a box. and the quality was
far superior than now, which means
that not so much soap was needed to
keep the house clean
Cotton waste used for cleaning the
bright work and in the engine room
costs four times as much now as year
ago. In other words. 9 cents would buy
a pound OF the material in 1915, and
cents Is now the price. Not much waste
had TO be bought before the days OF
conservation. as a lot OF material dis
posed of by tenants was used for such
purposes. But there is no discard ma
teriai now. Lead used in paints has in
creased 100 per cent. In price in the last
year. $3.50 buying no more now than
$3.50 bought last year. Apply this to
the cost Of decorating an apartment and
II easily will be understood why It takes
from $3.50 to $500 more to put a suite In
readiness for n tenant
Labor does not work as long as for
merly. yet Is paid as much. Painters
get $3.50 for a working day not SO long
as the day OF 1916. Elevator service
nf txsn
necessary now and more money for each
shift The item of repairs in one house
indicates how labor and material have
gone up in value.
In 1915 1t cost $1,000 to keep in order