The New York herald., 1921-04-07
MAY DAY SET FOR
NEW RENT BOOST
WITH MORE WOE
Landlords Plan to Increase
Rates, Says ShulhOf OF
Mayors Board.
NO SIGN OF DECREASE
Meeting to Be Called Soon
to Plan Way to Meet
the Situation.
TENANTS GET WARNING
Letters of Angry Protest
Reach Mayors Committee
on Rent Gouging.
TENANTS GET WARNING

Rents are still going UP. and May
will signaliEe another pretty general
riso in New York city. according TO Otto
3. Shulhof, chairman of the Mayors
Committee on Rent Prohteering. Hun
dreds of angrily expostulatory letters
that have poured into the committees
office In the City Hall from tenants who
have been requested already to get
ready to pay more rent or else get ready
to move out, as we'll as many letters
from disturbed landlords who insist
they must raise rents or accept ruin,
have convinced Mr.. Shulhof that May l
will be a day Of trial and tribulation to
q host of renters.
The facts of the local rent situation
seem altogether to knock out the theory
that rents, like other items of the cost
OF living. are on their way downhill.
They show quite the opposite. in fact.
1T looks like a sad May Day for
good many people" Chairman Shulhof
said yesterday. II have not had
chance to compile figures or percent
ages, but unquestionably thousands OF
landlords OF apartment buildings are
getting ready to make rent increases.
In Some cases the contemplated in
cresses are 25 per cent. People thus
threatened are writing anxiously to
know what can be done. There isn't
much We can do except arbitrate, 20
try to get one side or another to be
reasonable, and to accumulate all the
facts for subsequent use. It's COM
plicated situation. For example, many
landlords have written to us making out
q first rate case as to why they should
be allowed to increase their rents.
AT the bottom of the housing-rcntals
situation is the inability Of people who
are willing to build to get the money
they need 10 build with. Money lenders
viii! not allow more than 40 per cent. OF
the value OF new building in making
loans. when as a matter of business
they should lend on al least 80 per cent.
AS result. II is impossible for build
ers 20 go ahead on any such basis.
People with money TO lend are taking IL
to the call money market, where re-
turns are swift and profitable. or are
investing IN other fields, where results
are more pleasing TO them. The real
estate and building field Is neglected,
and so long as the neglect continues
there will be a housing shortage and
high rents.
I'm my judgment, believe the Legis-
lature should pass Senator Walkers bill
giving the city of New York tho righ.
tosell bonds for the purpose of making
leans TO those who want to build houses
for the shelter OF the people OF this
city. ! do not favor Gov. Miller's
proposition for higher mortgage interes,
rates. the invariable result OF which, as
has often been proved, Is TO increase
interest rates In all investment lines.
thereby hampering commercial interests
and directly tending TO increase the al
ready excessive cost of living.
Within ten days or two weeks
shall call a meeting OF representative
men OF tho community TO ask them to
make suggestions to tie Mayors COM
nlittee toward ameIiornting the rent
situation, ard especially the May Day
crisis confronting U.S.
Figures obtained BY the United States
Government reveal that gil over the
country rents remain practically sta
tionary whiio the costs OF fcodn clothing
and other essentials have gone down,
and that high rents keep the average Of
the cost of living at point nearly equal
TO tnat of the war period