New-York tribune., 1920-12-12
Broker Gives Some
Sid eight is on
Housing Situation
Tells of Change When the
Tenants Become Own
ers and of Judge Who
Is a Rent Profiteer
By Victor M. Earle

Member Board of Governors, Reel
Estate Investors of Nc7U York Inc.
Owing to the increased cost of oper-
ating apartment houses, which has
been going up by leaps and bounds, it
was necessary to increase the rentals
Of q certain apartment building. Ac-
cordlngly notice was sent out early in
March, 1920, to thl1ty-three tenants
whose leases we're to expire on Sep
temher 30, 1920. The notification an
nounced an increase in rentals Of
about 50 per cent.
Immediately the tenants became in
Slgnant. Most of them called at the
Office of our firm and condemned bit
terly the landlord ana her agent. The
new rentals had been fixed upon
merely to meet the increased operating
expenses and give the owner a fair re
turn upon her investment. It was then
proposed to the tenants that they buy
This property on the cooperative plan
and seventeen of the tenants decided
to purchase it, the sixteen other apart
ments being rented for the benefit Of
the tenant owners. Shortly &iterward
delegation of the tenant owners
called at our Office and declared that
he rentals were too low. They in
who were not owners should be in
Creased on the average about $500, or
co ncr cent, above the old figures.
This incident shows that q knowledge
OF the real facts makes a GREAT differ
encc in the individual point of view.
As tenants these individuals could not
or would not realize that increased
operating cost had made increased
~ents inevitable. AS owners they were
quick to realize this very pertinent
fact.
Old Tenants Are Spoiled
In another case we had tenant
whose rent was raised from $1,000 to
81 500 for 4 six-room apartment on
Riverside Drive, in the ninetics This
lady called at cur office and in the
strongest language Mt her command
berated everybody connected with the
building. If she had been a man, she
probably would have sworn. AS it was.
shc gave up her apartment, slammed
every door and walked indignantly ont
Of the Office
A few days later lady looking for
an apartment called and inquired for
slx-room apartment. This particular
apartment. which had been so forciblv
called TO our attention, was offered to
the new applicant for $500 more than
,he rent asked of the old tenant. Upon
oelng told the price of $2,4OO the an
plicant asked where it was and whether
II was a front apartment When she
mad learned its location and had been
assured that It was a front apartment
She said: ~'''
There Is something the matter
eilher Vth the apartment or with the
ones who are renting it to let six rooms
IN the front Of house for 50. 400 these
days" T'''' '"eoe
This shows the difference in the point
Of view Of an old tenant accustomed %
TO the low. non-productivo prices that
slahdlprds have in past years been
forced to accent and in that OF new
tenant who, after thorough invest;ga-
tlon and search. Is familiar with 70
new rentals necessitated by increased
cost Oh maintenance and other con-
dltlons. @oh-
The froftcering Jurist
Perhaps the most AMUSING ;nc;dar+
cnat came under our observation wac
wHen gentleman, attracted by our CO.
operative advertisement, called to see
II we could sell his property. When
we recorded the price of this propertv
1t developed that he had altered a mi,
vate house and was renting two room 9
with closet representing kitchen
ette for from S1.40O to 1900 a venr
ms plan was to sell the property at a
most exorbitant price on the co6pcra-
tive plan.
A1ter ne had given all of the par
u'ars we were astonished when he
told US that he was Judge sitt;ne ~
Il municipal court. When asked IL ha
was deciding cases against the land
lords these days he admitted with con
siderable embarrassment that he wns
His cooperative selling plan. which
was plainly extortionate. was rcfuaod
and he was informed that wo d. not
cnre to undertake. any such co. + H.
elon. Before he left tho learned f, .dgc
declared thnt tho only ones who did not
prontser There days wero the persona