The evening world., 1920-03-11
BIG TRINITY ESTATE
SEES NO EXCUSE IN
RENT PROFITEERING
Largest Increase in Home
Prices in Their Vast Hold
ingS IS a Month.
REMEDY is TO BUILD.
A. E. Marling Blames Specula-
tors for Abnormal Raise in
Rents All Over Town.

The first increase in rent on the
residence property Of Trinity estate
in thirty years was made few weeks
ago. and in no case did the rise eK-
ceed IS a month-S6O year. on its
business property rents we're boosted
as much as 40 per cent, according 10
w. +. Aigeltenger, chief clerk in
charge Of rentals.
These modest Increases In resi-
dence property will show there Is
much prOfiteerinE going on" said Mr.
Aigeltenser. These properties pay
just return in profit and we are per-
fectly satisfied with the rises. Our
tenants are also. We have made in
creases Of only 81 in many cases, and
find that that increase takes care OF
bigger costs rising from inflated prices.
IF we can get along on such small
increases there Is no reason why
other large real estate owners cannot
do 10. We are not profiteering and
do not intend 70 do so.
I'VE rent groups OF three and four
rooms for SIC a month. and they are
habitable: good, light. airy rooms too.
The same rooms held by some other
landlords would cost from $50 to $40
month. Such prices are absolutely
unwnrrnnt ted and are profiteerinR OF
the rankest sort.
What Is the remedy for prOfiteer-
Ing? Fundamentally there Is only
one, and that Is to build build! build!
Until there are more houses than
tenants the present acute situation
will remain. Tenants strikes might
forestall the profiteers TO some eX-
tent, but II docs not strike at the
bottom OF the problem.
ION our business properties We have
found II wise TO make increases in
rent near the market value, Ex-
penses on these buildings have in
creased q great deal | don't believe
we have equalled the market prices
in any case, but in a few cases we do
almost"
Alfred f. Marllng, President OF
Honce S. Ely g. Co.. real estate
dealers OF No. 2i Liberty Street,
does not believe drastic increases in
rents in the near future are justified.
There ought to be some way OF
| stopping this skyrocketing OF rents
| by spectators" he said. There
! ought TO be IA little dose Of the Golden
| Rule forced upon them somehow.
But how7 You can hardly regulate
rents by law, because that Will imme-
diately discourage bullding-and lack
Of building Is really the cause OF the
trouble. But there Is a contributory
cause.-the speculator.
"That is the man who buys an
apartment house with "A small amount
down and allows most OF II to remain
in mortgage. He then boosts rents
out OF sight and sells TO the next man
at a big profit because he has made
the property pay out Of all proportion
TO It's value.
The protiteer-and these specu-
lators, for they are one and the
same-should be reached somehow.
Maybe the Tenants Protective League
can do something in temporary way
to intimidate them: and N they do, my
blessings are upon them.
But there is this fact we must all
face: Rents will be inflated until
there are more homes and apart
ments. You can't get away from IT,"
Francis Guerrlich, a member of the
same Arm, believes liberal view on
big rentals will aid building and thus
go far toward remedylng the sltua-
ton.
II believe present day values should
be put upon houses built years ago at
lower costs, and rents should be
charged in accordance Herewith" ne
said. For instance, II man built
an apartment In 1900 at cost OF
800, 900 and. according to present day
building prices, that house would be
worth $500. 900, he should be allowed 10
charge rental on a 100000 invest
ment. This may sound like encourag-
ing prohteering, but II isn't, It's a
plea for fairness To the man who owns
old property. When a man doubles
rentals in case like this do not
believe II Is any more than Just"