Submitted by Michael Krieger of LibertyBlitzkrieg
This takes the concept of slumlord to an entirely new level. As New York City struggles to find shelter for its increasingly large homeless population, some landlords are paying off their rent-stabilized tenants in order to overcharge the city on rentals for the homeless. In some cases, the rent ends up being as high as $3,000 a month for a tiny room without a kitchen or a bathroom. Yep, you read that correctly. So next time you wonder why you are paying so much money for your little box in the sky, you can thank America’s growing slumlord industry. Prepare your jaw to remain open for the next couple of minutes.
From the New York Times:
The city’s Department of Homeless Services pays many times the amount the rooms would usually rent for — spending over $3,000 a month for each threadbare room without a bathroom or kitchen — because of an acute shortage in shelters for homeless men and women.
Read the rest here.