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The purpose of rent stabilization is to preserve affordable housing.
Others suggested that the arrangement undermines the purpose of rent regulation.
To which Michael McKee, associate director of the New York State Tenants and Neighbors Coalition, said: "The point here is that the purpose of rent regulation is not merely to protect the tenant in place, it's to keep the apartment affordable for people who are going to live in it in the future.
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Paul Macapagal, a vice president of the Real Estate Group NY, said he had represented many clients who bought condos as investment properties for the purpose of renting them short-term.
Q Is it possible to buy a co-op from a sponsor as an investor for the purpose of renting it out?
History shows that an oversupply of units may be created when over 30% of the units are bought by profit-hungry small-time investors, rushing to buy products they don't need for themselves but for the sole purpose of renting them out.
The state's definition of a housing shortage, for the purposes of rent regulation, is a vacancy rate under 5percentt.
Aquaculture is conceptualized as a type of cadastralization, following James Scott's characterization of state efforts to make the productivity of landscapes more measurable for purposes of rent generation and taxation.
SOMETIMES it seems that one purpose of the rent stabilization system is to test the mettle of out-of-towners, to assess whether they have the creativity and the nerve to live here.
In response to this housing crisis, the UK's seen a boom in the development of build-to-rent properties: homes which are made for the primary purpose of being rented long-term.
In 1989, the Court of Appeals expanded the definition of family to include same-sex partners for the purposes of inhabiting rent-controlled apartments after a tenant dies.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com