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Most European countries have longer tenancies than the UK and give renters some degree of certainty about how much rents will rise during their lease, writes Shane Hickey.
Although 80 percent of the apartments can be priced at the upper limits of what developers think the market will bear, they then automatically come under the rent-stabilization system, limiting how much rents can rise each year afterward.
Every spring, the city's Rent Guidelines Board deliberates over how much rents should rise or fall for the one million or so apartments in New York City that are subject to rent regulations.
"In Long Beach they usually have a large outpouring of tenants," said Philip E. LaGreca, the chairman of the Nassau County Rent Guidelines Board, which decides how much rents will rise.
Dean J. Shapiro, executive director of Insignia/ESG's Connecticut-Westchester operations, said: "I'm not sure we know how much rents have fallen because there hasn't been enough leasing activity.
"Until we have limits on how much rents can go up by there will be no real protection from a landlord who wants to raise rents, says Craw. "We'd like to see rent rises limited to inflation".
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No mention was made of how much rent was expected.
Board members said they were not told how people got apartments or how much rent they paid.
Asked how much rent the show pays, he joked, "Not enough".
Mr. Volpe declined to say how much rent MTV pays, as did executives with the network.
It was not revealed how much the work would cost or how much rent he will pay.
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