1 00:00:02,360 --> 00:00:05,320 Speaker 1: This is Alec Baldwin and you're listening to Here's the 2 00:00:05,320 --> 00:00:10,520 Speaker 1: Thing from iHeart Radio. Renting an apartment in any city 3 00:00:10,600 --> 00:00:14,319 Speaker 1: can be a stressful and daunting situation, but nowhere more 4 00:00:14,400 --> 00:00:18,800 Speaker 1: so than New York. My guest today is the creator 5 00:00:19,200 --> 00:00:22,239 Speaker 1: of a platform that makes the process of finding both 6 00:00:22,360 --> 00:00:29,240 Speaker 1: quality apartments and landlords easier. Alia Mohammed created open Igloo 7 00:00:29,520 --> 00:00:33,920 Speaker 1: after navigating her own frustrations with the rental market. Born 8 00:00:34,120 --> 00:00:39,400 Speaker 1: in Canada, Mohammed spent nearly a decade working in international finance, 9 00:00:39,520 --> 00:00:44,519 Speaker 1: venture capital, and consulting. She would eventually leave finance for 10 00:00:44,600 --> 00:00:48,400 Speaker 1: the startup world and chose a cause close to home. 11 00:00:49,360 --> 00:00:53,680 Speaker 1: With open Igloo, Mohammed hopes to bring transparency to rental 12 00:00:53,720 --> 00:00:58,080 Speaker 1: markets by combining open source city data with feedback and 13 00:00:58,160 --> 00:01:03,160 Speaker 1: reviews directly from tennant. As of this year, twenty twenty six, 14 00:01:03,280 --> 00:01:06,960 Speaker 1: open igloo has supported more than three million New York 15 00:01:07,000 --> 00:01:10,759 Speaker 1: City renters. I wanted to know how open igloo gained 16 00:01:10,800 --> 00:01:14,840 Speaker 1: such a large following since its launch in twenty twenty. 17 00:01:15,480 --> 00:01:18,520 Speaker 2: They find us on social media, they hear about us 18 00:01:18,560 --> 00:01:22,800 Speaker 2: through friends and family, and sometimes on podcasts and then 19 00:01:22,920 --> 00:01:23,479 Speaker 2: radio shows. 20 00:01:23,520 --> 00:01:26,399 Speaker 1: Okay, but when they come to you they is it 21 00:01:26,480 --> 00:01:28,440 Speaker 1: a fee they pay? Now? I was told that there's 22 00:01:29,120 --> 00:01:30,840 Speaker 1: was there a fee from the beginning, and now there 23 00:01:31,120 --> 00:01:32,920 Speaker 1: and there wasn't and now there is whove grounds much 24 00:01:32,920 --> 00:01:33,920 Speaker 1: you need to charge them my fee? 25 00:01:34,040 --> 00:01:36,960 Speaker 2: Yeah, So we support renters all across the five boroughs 26 00:01:37,120 --> 00:01:40,360 Speaker 2: in researching buildings and landlords. They're considering and searching for 27 00:01:40,440 --> 00:01:43,800 Speaker 2: quality apartments. So we don't charge renters when they search 28 00:01:43,880 --> 00:01:46,360 Speaker 2: for an apartment on our platform. The way that we 29 00:01:46,440 --> 00:01:50,720 Speaker 2: monetize is we build partnerships with quality and reputable owners, 30 00:01:50,960 --> 00:01:53,000 Speaker 2: and when we send them, renters to their door and 31 00:01:53,000 --> 00:01:56,040 Speaker 2: at least get signed. That's how we get compensated. 32 00:01:55,560 --> 00:01:58,240 Speaker 1: Owners of the buildings. Exactly, and how did the owners 33 00:01:58,280 --> 00:02:00,760 Speaker 1: of the buildings react at first when you went to 34 00:02:00,800 --> 00:02:02,000 Speaker 1: them and tell them what it was you had up 35 00:02:02,000 --> 00:02:03,440 Speaker 1: your slave. It's a great question. 36 00:02:03,840 --> 00:02:06,640 Speaker 2: So at the beginning, they were definitely cautious about what 37 00:02:06,640 --> 00:02:08,880 Speaker 2: we were building. So we built a platform that allows 38 00:02:08,919 --> 00:02:12,359 Speaker 2: renters to read and share reviews about their rental experiences. 39 00:02:12,680 --> 00:02:15,240 Speaker 2: We coupled that with city data, so we give renters 40 00:02:15,280 --> 00:02:18,240 Speaker 2: access to are there any open violations in this building? 41 00:02:18,280 --> 00:02:22,480 Speaker 2: Any litigation history, any eviction history? So landlords were you know, 42 00:02:22,840 --> 00:02:25,160 Speaker 2: a little bit cautious. But what we've done is we 43 00:02:25,200 --> 00:02:27,720 Speaker 2: built a community of landlords that are really supportive of 44 00:02:27,760 --> 00:02:32,840 Speaker 2: this transparency because landlords who take their businesses seriously understand 45 00:02:32,919 --> 00:02:36,040 Speaker 2: that renters knowing the good, bad and ugly before they 46 00:02:36,120 --> 00:02:38,960 Speaker 2: sign a one good face is really really important. I mean, 47 00:02:39,000 --> 00:02:41,480 Speaker 2: I'll give you a small example. There was an apartment 48 00:02:41,520 --> 00:02:45,080 Speaker 2: above a bodega that turns into a nightclub every single 49 00:02:45,160 --> 00:02:47,760 Speaker 2: night until four in the morning. Why would a landlord 50 00:02:47,880 --> 00:02:51,160 Speaker 2: want a tenant to move in not having access to 51 00:02:51,160 --> 00:02:53,400 Speaker 2: that information, right, that's not going to be a good 52 00:02:53,440 --> 00:02:55,600 Speaker 2: a good starting point for the relationship. So that's really 53 00:02:55,600 --> 00:02:58,800 Speaker 2: what we're after is bringing these two sides together and 54 00:02:58,800 --> 00:02:59,960 Speaker 2: giving them access to information. 55 00:03:00,520 --> 00:03:03,840 Speaker 1: Now, when you have the owners of the buildings, and 56 00:03:04,520 --> 00:03:06,520 Speaker 1: there was the ones that didn't want to participate in 57 00:03:06,560 --> 00:03:09,000 Speaker 1: your program, they don't want to cooperate it in any way. 58 00:03:09,600 --> 00:03:12,040 Speaker 1: That led me to think, among other things, of what's 59 00:03:12,080 --> 00:03:15,359 Speaker 1: the number one complaint that renters have in New York 60 00:03:15,360 --> 00:03:16,840 Speaker 1: about the buildings they are And I'm going to assume 61 00:03:16,840 --> 00:03:17,240 Speaker 1: it's heat. 62 00:03:17,520 --> 00:03:19,840 Speaker 2: Heat is a huge one, especially in the weather that 63 00:03:19,880 --> 00:03:22,040 Speaker 2: we're having in New York City right now, record weather 64 00:03:22,200 --> 00:03:25,600 Speaker 2: exactly seventy percent of buildings in New York City rely 65 00:03:25,680 --> 00:03:27,680 Speaker 2: on the landlord to turn on the heat. We also 66 00:03:27,720 --> 00:03:30,120 Speaker 2: have really old housing stock in New York City, so 67 00:03:30,120 --> 00:03:34,320 Speaker 2: we're using steamed radiators that haven't been maintained in you know, 68 00:03:34,440 --> 00:03:36,680 Speaker 2: in decades. So this is a real challenge that even 69 00:03:36,720 --> 00:03:39,040 Speaker 2: if the heat is working in the building, your apartment 70 00:03:39,080 --> 00:03:41,120 Speaker 2: might feel like asauna. Right, it's one hundred degrees in 71 00:03:41,120 --> 00:03:43,360 Speaker 2: your apartment. So definitely heat is a number one complaint 72 00:03:43,360 --> 00:03:44,080 Speaker 2: amongst runters. 73 00:03:44,480 --> 00:03:47,480 Speaker 1: Now, when I would assume that New Yorkers, or the 74 00:03:47,520 --> 00:03:51,200 Speaker 1: political consciousness of New York as it's expressed during elections 75 00:03:51,200 --> 00:03:54,360 Speaker 1: and what the candidates say, they care deeply about housing 76 00:03:54,400 --> 00:03:57,200 Speaker 1: and the lack thereof, would you say that that's true. 77 00:03:57,840 --> 00:04:00,560 Speaker 1: New Yorkers want us to do something about the house situation, 78 00:04:00,640 --> 00:04:03,200 Speaker 1: and not just the ones you need it affordable house Exactly. 79 00:04:03,240 --> 00:04:05,800 Speaker 2: There are five and a half million renters in New 80 00:04:05,840 --> 00:04:09,320 Speaker 2: York City, sixty five percent of the city rents their home, 81 00:04:09,680 --> 00:04:12,800 Speaker 2: and there just simply isn't enough housing. And then you 82 00:04:12,880 --> 00:04:15,640 Speaker 2: also look at the affordability of the housing that does exist. 83 00:04:16,160 --> 00:04:19,039 Speaker 2: Thirty percent of New York City renter, the majority of 84 00:04:19,040 --> 00:04:21,359 Speaker 2: New York City renters spend more than thirty percent of 85 00:04:21,360 --> 00:04:24,320 Speaker 2: their income on rent. Another thirty percent of New York 86 00:04:24,360 --> 00:04:26,800 Speaker 2: City renter is spend over fifty percent of their income 87 00:04:26,839 --> 00:04:29,960 Speaker 2: on rent. So this is considered a very severely rent 88 00:04:30,080 --> 00:04:33,560 Speaker 2: burdened city, and it needs to be a holistic solution 89 00:04:33,720 --> 00:04:37,159 Speaker 2: that includes building housing, but also smart policy that's going 90 00:04:37,240 --> 00:04:39,160 Speaker 2: to keep renters housed in the long run. 91 00:04:39,400 --> 00:04:41,920 Speaker 1: Are you heartened by mom Donnie becoming the mayor? 92 00:04:42,120 --> 00:04:45,719 Speaker 2: You know, I'm excited that he really focused on housing 93 00:04:45,760 --> 00:04:49,159 Speaker 2: affordability as a pillar of his campaign, and he really 94 00:04:49,200 --> 00:04:51,680 Speaker 2: spoke to the hearts of New Yorkers, which is this 95 00:04:51,720 --> 00:04:54,520 Speaker 2: is something we're struggling with every single month when we 96 00:04:54,560 --> 00:04:57,599 Speaker 2: write that rent check. And I'm excited that he seems 97 00:04:57,640 --> 00:05:00,400 Speaker 2: to be really focused on solving this problem. 98 00:05:00,720 --> 00:05:03,440 Speaker 1: I remember when I was young, I would come into 99 00:05:03,440 --> 00:05:05,320 Speaker 1: New York and we would get the Village Voice there 100 00:05:05,320 --> 00:05:08,000 Speaker 1: was no internet, and look for ass in the real 101 00:05:08,160 --> 00:05:11,400 Speaker 1: estate market. Go to the apartment, stand in line. The 102 00:05:11,480 --> 00:05:14,320 Speaker 1: line's a block long. I'm ever forget. I'm on Bleaker Street. 103 00:05:14,320 --> 00:05:17,880 Speaker 1: I walk into the studio and all the walls are 104 00:05:18,680 --> 00:05:21,320 Speaker 1: peeling off, the plasters pill you see the last inside 105 00:05:22,000 --> 00:05:24,640 Speaker 1: you can see the laugh inside the wood framing, inside 106 00:05:24,680 --> 00:05:27,000 Speaker 1: the walls. Everything, the paint is peeling. The thing is 107 00:05:27,000 --> 00:05:29,760 Speaker 1: a mess, and there's like a box, a wooden box 108 00:05:30,320 --> 00:05:33,560 Speaker 1: resemble the steam trunk. But then you look closer, there 109 00:05:33,640 --> 00:05:36,800 Speaker 1: was drawers there. They just had the frame unpainted and 110 00:05:36,839 --> 00:05:38,479 Speaker 1: you put a mattress on top, I guess, or some 111 00:05:38,520 --> 00:05:40,480 Speaker 1: piece of pham. And I walk up to the guy 112 00:05:40,480 --> 00:05:43,320 Speaker 1: and they wanted like back then, they wanted some you know, 113 00:05:43,720 --> 00:05:45,359 Speaker 1: I don't remember. It was like, let's say it's fifteen 114 00:05:45,440 --> 00:05:48,240 Speaker 1: hundred dollars for something that should have cost half that. 115 00:05:48,839 --> 00:05:50,760 Speaker 1: I look at the guy. Because of the neighborhood, obviously 116 00:05:50,800 --> 00:05:52,279 Speaker 1: there's a line of people, and I say to the guy, 117 00:05:52,480 --> 00:05:54,320 Speaker 1: you gotta be kidding me. I looked him right in 118 00:05:54,320 --> 00:05:57,240 Speaker 1: the face. You're charging fifteen hundred dollars to this. He goes. 119 00:05:57,440 --> 00:05:59,640 Speaker 1: You come back at four o'clock, it'll be gone. And 120 00:05:59,680 --> 00:06:02,760 Speaker 1: that was the reality of it. I learned right away 121 00:06:03,240 --> 00:06:04,960 Speaker 1: your apartment. How did you find your apartment? 122 00:06:05,240 --> 00:06:09,560 Speaker 2: I found my apartment by standing outside of the building 123 00:06:09,680 --> 00:06:12,680 Speaker 2: waiting for people walking in and out, asking them if 124 00:06:12,680 --> 00:06:15,559 Speaker 2: they liked the building. So my New York City rental 125 00:06:15,640 --> 00:06:18,839 Speaker 2: story not as exciting as yours. But I lived in 126 00:06:18,880 --> 00:06:22,160 Speaker 2: apartments that were not well maintained, landlords that never picked 127 00:06:22,200 --> 00:06:24,360 Speaker 2: up the phone when something went wrong. So whenever I 128 00:06:24,360 --> 00:06:26,760 Speaker 2: would apartment hunt, I wanted to do more research. I 129 00:06:26,800 --> 00:06:28,640 Speaker 2: would just stand outside of buildings. I would wait for 130 00:06:28,640 --> 00:06:30,320 Speaker 2: people walking in and out, saying do you live here? 131 00:06:30,640 --> 00:06:32,760 Speaker 2: How's the landlord? Should I move in? And I got 132 00:06:32,760 --> 00:06:35,359 Speaker 2: a lot of really valuable information from doing that, and 133 00:06:35,400 --> 00:06:38,120 Speaker 2: that's ultimately how I found my apartment. I got good 134 00:06:38,200 --> 00:06:40,120 Speaker 2: reviews from the people that were walking out. And this 135 00:06:40,240 --> 00:06:42,600 Speaker 2: was really the light bulb moment to start opening glow, 136 00:06:42,880 --> 00:06:45,640 Speaker 2: which is, can we build a platform to crowdsource this 137 00:06:45,720 --> 00:06:48,960 Speaker 2: rental feedback, couple it with city data, and give renters 138 00:06:49,000 --> 00:06:51,280 Speaker 2: their own background check on a building and landlord in 139 00:06:51,320 --> 00:06:53,280 Speaker 2: the same way that renters have to put together one 140 00:06:53,360 --> 00:06:56,240 Speaker 2: hundred page application to get an apartment in New York City. 141 00:06:56,279 --> 00:06:58,640 Speaker 2: So that's how I found my apartment. It's rent stabilized, 142 00:06:58,720 --> 00:07:00,800 Speaker 2: it's in Brooklyn. I've lived there for many years and 143 00:07:01,080 --> 00:07:02,599 Speaker 2: don't have plans to leave anytime soon. 144 00:07:02,880 --> 00:07:05,040 Speaker 1: Where are they doing it better? What city are they 145 00:07:05,080 --> 00:07:08,360 Speaker 1: doing it better? Because you hear about housing crises all over, 146 00:07:08,440 --> 00:07:11,720 Speaker 1: particularly San Francisco, because of the tech world pricing all 147 00:07:11,720 --> 00:07:14,400 Speaker 1: that housing. Where's the city that you think is getting 148 00:07:14,400 --> 00:07:16,000 Speaker 1: it more right than wrong? 149 00:07:16,240 --> 00:07:18,760 Speaker 2: Oh my goodness, it's a great it's a great question. 150 00:07:18,880 --> 00:07:21,440 Speaker 2: And I think that New York is not unique in 151 00:07:21,480 --> 00:07:24,200 Speaker 2: being a city that struggles with their housing. You look 152 00:07:24,240 --> 00:07:26,640 Speaker 2: at San Francisco, you look at La you even look 153 00:07:26,680 --> 00:07:29,640 Speaker 2: at Miami that had a lot of influx of new 154 00:07:29,760 --> 00:07:34,520 Speaker 2: new renters during COVID. This is a global issue with 155 00:07:34,680 --> 00:07:37,480 Speaker 2: metropolitan cities. Even if you look at case studies in Europe, 156 00:07:37,480 --> 00:07:40,400 Speaker 2: which you know in Vienna or Berlin or even Paris, 157 00:07:40,440 --> 00:07:44,480 Speaker 2: cities that have really strong rent regulation, they're also struggling 158 00:07:44,560 --> 00:07:47,120 Speaker 2: to keep up with the population growth and grow the 159 00:07:47,160 --> 00:07:49,960 Speaker 2: housing stock. So I think this is something that's really universal. 160 00:07:50,280 --> 00:07:53,720 Speaker 2: It's the medium and smaller cities that are that are 161 00:07:53,760 --> 00:07:56,160 Speaker 2: doing better, like a Boston or a DC. 162 00:07:56,680 --> 00:07:57,480 Speaker 1: How's Toronto. 163 00:07:57,920 --> 00:08:01,240 Speaker 2: Toronto also is having a lot of challenges. A lot 164 00:08:01,280 --> 00:08:05,040 Speaker 2: of their housing stock is new, brand new condos, luxury 165 00:08:05,040 --> 00:08:08,400 Speaker 2: condos where rents are just too expensive and your average 166 00:08:08,440 --> 00:08:11,000 Speaker 2: working class family can't even afford to move into the 167 00:08:11,000 --> 00:08:13,760 Speaker 2: new housing that's being constructed. So this is this is 168 00:08:13,800 --> 00:08:16,040 Speaker 2: definitely a global issue across the gambit. 169 00:08:17,160 --> 00:08:20,040 Speaker 1: I see those huge buildings on the south end of 170 00:08:20,080 --> 00:08:24,480 Speaker 1: the park. I see those enormous pencil like buildings they 171 00:08:24,480 --> 00:08:27,240 Speaker 1: put up in recent ears to the ugliest buildings I've 172 00:08:27,240 --> 00:08:28,120 Speaker 1: ever seen in New York. 173 00:08:28,480 --> 00:08:30,320 Speaker 2: And they have their own construction issues. There was the 174 00:08:30,360 --> 00:08:33,000 Speaker 2: story of the match Tick building on Park Avenue where 175 00:08:33,000 --> 00:08:36,880 Speaker 2: the garbage shoot, the garbage velocity, yes, exactly, it was 176 00:08:36,920 --> 00:08:40,800 Speaker 2: just exploding. And you know, people spend tens of millions 177 00:08:40,800 --> 00:08:42,120 Speaker 2: of dollars on those apartments. 178 00:08:42,200 --> 00:08:44,280 Speaker 1: So one thing that comes to mind is I hear, 179 00:08:44,880 --> 00:08:47,720 Speaker 1: maybe just in my head, the wording of people who 180 00:08:47,760 --> 00:08:50,880 Speaker 1: are opposed to the work you do. They're totally market driven, 181 00:08:51,240 --> 00:08:52,719 Speaker 1: and they're going to sit there and say, why does 182 00:08:52,800 --> 00:08:55,600 Speaker 1: New York owe everybody a place to live here? Like 183 00:08:55,679 --> 00:08:58,160 Speaker 1: once we reach where we are and there's a I mean, 184 00:08:58,160 --> 00:09:02,080 Speaker 1: I'm all for rend control, stabilization, but the idea that 185 00:09:02,120 --> 00:09:03,960 Speaker 1: we owe everybody a house, why don't they just go 186 00:09:04,080 --> 00:09:07,840 Speaker 1: somewhere else. There's no room, it's done, it's filled up 187 00:09:07,920 --> 00:09:10,120 Speaker 1: for now, and unless they build other things, what do 188 00:09:10,160 --> 00:09:10,840 Speaker 1: you say to them? 189 00:09:11,600 --> 00:09:14,440 Speaker 2: You know, I have a very firm belief that there 190 00:09:14,520 --> 00:09:18,200 Speaker 2: are some things that are human rights, and housing is 191 00:09:18,280 --> 00:09:22,160 Speaker 2: one of them, and housing is something that permeates into 192 00:09:22,240 --> 00:09:25,200 Speaker 2: all aspects of our society. If people do not have 193 00:09:25,240 --> 00:09:28,480 Speaker 2: stable housing, they're not going to have access to education, 194 00:09:28,559 --> 00:09:31,319 Speaker 2: They're not going to have access to economic opportunity. Housing 195 00:09:31,400 --> 00:09:35,720 Speaker 2: is really the foundation to living in a successful society. 196 00:09:36,040 --> 00:09:38,280 Speaker 2: And you'll talk to some of these free market capitalists 197 00:09:38,760 --> 00:09:41,200 Speaker 2: that also share that belief that you should not be 198 00:09:41,240 --> 00:09:46,199 Speaker 2: able to charge whatever you want on housing, education, or healthcare. 199 00:09:46,360 --> 00:09:48,920 Speaker 2: These are things that are extremely sacred that need to 200 00:09:48,960 --> 00:09:51,680 Speaker 2: have some sort of regulation. New York City has always 201 00:09:51,679 --> 00:09:53,600 Speaker 2: been a place where people want to live, that people 202 00:09:53,720 --> 00:09:56,120 Speaker 2: move from all over the world, and we need to 203 00:09:56,120 --> 00:09:58,880 Speaker 2: make sure that we are accommodating the spirit and culture 204 00:09:59,000 --> 00:10:00,679 Speaker 2: and the history of New York City. 205 00:10:01,280 --> 00:10:03,480 Speaker 1: You function, I'm sure the fees that are paid to 206 00:10:03,520 --> 00:10:06,280 Speaker 1: you by your clients, if you will, that doesn't cover 207 00:10:06,360 --> 00:10:09,679 Speaker 1: all the costs, correct, correct? So you get funding from 208 00:10:09,720 --> 00:10:12,000 Speaker 1: where we do. We're a venture back to startup, right, 209 00:10:12,080 --> 00:10:13,280 Speaker 1: and where does the money come from? 210 00:10:13,559 --> 00:10:17,240 Speaker 2: So we have monetization models, but we also have venture 211 00:10:17,240 --> 00:10:20,200 Speaker 2: capital investors that also believe in this mission of rental 212 00:10:20,200 --> 00:10:22,559 Speaker 2: transparency that has provided funding to us. 213 00:10:23,480 --> 00:10:25,560 Speaker 1: You did a lot of things in your career, Yes, 214 00:10:25,720 --> 00:10:30,040 Speaker 1: before you did this, and I'm assuming you did fairly well. 215 00:10:30,120 --> 00:10:32,760 Speaker 1: You win all these money. My friends who do finance 216 00:10:32,840 --> 00:10:35,640 Speaker 1: or whatever it is, as a matter of treasure anything, 217 00:10:35,800 --> 00:10:37,839 Speaker 1: I just called them. They're in money. I said, yes, 218 00:10:38,000 --> 00:10:39,679 Speaker 1: just make my life simpler because I can't keep track 219 00:10:39,720 --> 00:10:42,280 Speaker 1: of all these different offshoots. But you did that. Do 220 00:10:42,320 --> 00:10:43,800 Speaker 1: you miss it or do you still do it? Are 221 00:10:43,800 --> 00:10:45,400 Speaker 1: you still an entrepreneur in the way that you were 222 00:10:45,400 --> 00:10:46,600 Speaker 1: before opening clip? 223 00:10:46,920 --> 00:10:49,880 Speaker 2: I am an entrepreneur full time with Open a Glue, 224 00:10:49,960 --> 00:10:53,920 Speaker 2: and I do miss my prior stints. I worked in banking, 225 00:10:54,000 --> 00:10:57,040 Speaker 2: I worked in venture capital, investing in startups, working on 226 00:10:57,080 --> 00:10:59,240 Speaker 2: a trading floor. My first job out of college was 227 00:10:59,520 --> 00:11:01,360 Speaker 2: working in Wall Street. That's what brought me to New 228 00:11:01,440 --> 00:11:05,000 Speaker 2: York City to begin with. And there's something fun about 229 00:11:05,040 --> 00:11:08,440 Speaker 2: the pace and also just the learning. Right When you 230 00:11:08,480 --> 00:11:10,520 Speaker 2: work in that type of environment, you're reading the news. 231 00:11:10,559 --> 00:11:13,040 Speaker 2: You're reading about what's going on in all corners of 232 00:11:13,440 --> 00:11:16,440 Speaker 2: all corners of the world. And I loved that about 233 00:11:16,440 --> 00:11:17,920 Speaker 2: the job. But I do that now in my work 234 00:11:17,960 --> 00:11:22,040 Speaker 2: with Openeglo. I love staying on top of what is 235 00:11:22,080 --> 00:11:24,280 Speaker 2: going on in our city, what is going on in 236 00:11:24,320 --> 00:11:27,360 Speaker 2: city politics, what is going on in the housing space, 237 00:11:27,400 --> 00:11:30,280 Speaker 2: what is on renters' minds, and taking all of that 238 00:11:30,400 --> 00:11:33,120 Speaker 2: knowledge to build a platform that hopefully is going to 239 00:11:33,160 --> 00:11:35,400 Speaker 2: make New York City better in the long run. What 240 00:11:35,440 --> 00:11:38,720 Speaker 2: we're seeing now, just a few years into building Open Agloo, 241 00:11:39,120 --> 00:11:42,320 Speaker 2: is that landlords are changing their behavior. They're actually taking 242 00:11:42,360 --> 00:11:46,080 Speaker 2: care of their buildings because they're realizing that the transparency 243 00:11:46,080 --> 00:11:48,200 Speaker 2: that we're putting in, the spotlight we're putting on them 244 00:11:48,520 --> 00:11:51,920 Speaker 2: means they're losing clients. They're not signing leases as fast 245 00:11:51,920 --> 00:11:54,520 Speaker 2: as they once were because renters are looking at the 246 00:11:54,559 --> 00:11:56,240 Speaker 2: reviews and saying, well, I don't want to pay four 247 00:11:56,280 --> 00:11:58,439 Speaker 2: thousand dollars a month to live here. You don't take 248 00:11:58,480 --> 00:12:00,600 Speaker 2: care of your renters that you have right now. So 249 00:12:00,640 --> 00:12:03,320 Speaker 2: we're starting to see that impact, and that's really what 250 00:12:03,360 --> 00:12:04,840 Speaker 2: I'm excited to continue to focus on. 251 00:12:05,360 --> 00:12:07,679 Speaker 1: Not in all things, but I tend to view when 252 00:12:07,679 --> 00:12:10,240 Speaker 1: I was reading about you and your work, I tend 253 00:12:10,280 --> 00:12:12,720 Speaker 1: to view it like other things, where you're doing jobs 254 00:12:12,720 --> 00:12:16,200 Speaker 1: the government ought to be doing. You're providing a service, 255 00:12:16,240 --> 00:12:18,960 Speaker 1: and you're providing a reality to people that is a 256 00:12:19,000 --> 00:12:22,000 Speaker 1: business the government might have been in to provide transparency, 257 00:12:22,040 --> 00:12:22,360 Speaker 1: and so. 258 00:12:22,280 --> 00:12:26,400 Speaker 2: Farth transparency and also informing renters about their rights. So 259 00:12:26,679 --> 00:12:30,400 Speaker 2: rent stabilization is a big policy that impacts millions of 260 00:12:30,400 --> 00:12:33,560 Speaker 2: New Yorkers. There's nearly a million rent stabilized apartments, and 261 00:12:33,600 --> 00:12:36,680 Speaker 2: we ask renters when they're reviewing their landlords and buildings, 262 00:12:36,880 --> 00:12:38,439 Speaker 2: do you live in a stabilized apartment? 263 00:12:38,840 --> 00:12:39,560 Speaker 1: Yes? No? 264 00:12:40,000 --> 00:12:44,000 Speaker 2: Not sure? Thirty five percent of our users check not sure, 265 00:12:44,640 --> 00:12:47,040 Speaker 2: and that breaks my heart. That means that there are 266 00:12:47,120 --> 00:12:49,280 Speaker 2: hundreds of thousands of renters who probably live in a 267 00:12:49,320 --> 00:12:52,080 Speaker 2: stabilized apartment and don't even know it. And having this 268 00:12:52,160 --> 00:12:55,600 Speaker 2: type of protection means your rent increases are limited and 269 00:12:55,640 --> 00:12:58,000 Speaker 2: you are entitled to a renewal. The landlord cannot ask 270 00:12:58,000 --> 00:13:00,600 Speaker 2: you to leave. So big mission at O BINEGLO has 271 00:13:00,600 --> 00:13:03,520 Speaker 2: been sharing this information, trying to trying to get the 272 00:13:03,559 --> 00:13:06,720 Speaker 2: work done. Believe absolutely, it's devastating when you when you 273 00:13:06,760 --> 00:13:08,720 Speaker 2: think about the old school New Yorkers and we all 274 00:13:08,760 --> 00:13:11,080 Speaker 2: know one or two of them that are living in 275 00:13:11,120 --> 00:13:13,720 Speaker 2: a five hundred dollars rent controlled apartment on the Upper 276 00:13:13,760 --> 00:13:17,200 Speaker 2: West Side. Those are because those renters knew their rights 277 00:13:17,400 --> 00:13:20,520 Speaker 2: right and they stayed in that apartment for their entire lives, 278 00:13:20,559 --> 00:13:23,280 Speaker 2: and as a result, they're able to stay and live 279 00:13:23,280 --> 00:13:25,240 Speaker 2: in the city comfortably, and I want to make sure 280 00:13:25,240 --> 00:13:27,640 Speaker 2: as many renters know about those rights as possible. 281 00:13:30,440 --> 00:13:35,480 Speaker 1: Open igloo co founder and CEO Alia Mohammad. If you 282 00:13:35,640 --> 00:13:39,200 Speaker 1: enjoy conversations about the heart of New York City, check 283 00:13:39,240 --> 00:13:42,480 Speaker 1: out my episode with WNYC's Brian Larra. 284 00:13:43,200 --> 00:13:45,760 Speaker 3: People have said to me, oh, your show is the 285 00:13:45,800 --> 00:13:51,160 Speaker 3: opposite of Rush Limbaugh. And it's not because he's conservative 286 00:13:51,400 --> 00:13:55,640 Speaker 3: and I'm liberal. It's because he makes no secret about 287 00:13:55,640 --> 00:13:59,240 Speaker 3: the shows about what he thinks. For me, I have opinions. 288 00:13:59,320 --> 00:14:03,400 Speaker 3: I sometimes state my opinions, or I sometimes frame questions 289 00:14:03,440 --> 00:14:06,840 Speaker 3: in a leading way that suggests an opinion. But the 290 00:14:06,920 --> 00:14:10,160 Speaker 3: show is not about what I think. So if I'm 291 00:14:10,200 --> 00:14:13,080 Speaker 3: expressing a point of view, which I'm allowed to do 292 00:14:13,160 --> 00:14:16,400 Speaker 3: on the show, but if I do express an opinion, 293 00:14:16,679 --> 00:14:20,280 Speaker 3: it's in the context of, Okay, this is what I think. Now, 294 00:14:20,480 --> 00:14:24,720 Speaker 3: everybody else who agrees or disagrees, come on in and 295 00:14:24,840 --> 00:14:26,800 Speaker 3: let's have a meaningful conversation about it. 296 00:14:28,800 --> 00:14:32,680 Speaker 1: To hear more of my conversation with Brian Lehrer, go 297 00:14:32,760 --> 00:14:37,880 Speaker 1: to Here's Thething dot org. After the break, Alia discusses 298 00:14:37,920 --> 00:14:42,119 Speaker 1: her hopes for New York City housing plans under Mayor Mumdani. 299 00:14:52,200 --> 00:14:55,840 Speaker 1: I'm Alec Baldwin, and this is here's the thing. As 300 00:14:55,960 --> 00:15:00,680 Speaker 1: the affordable housing crisis swells across the United States, New 301 00:15:00,760 --> 00:15:04,920 Speaker 1: York City leads the way with its unaffordable market for renters. 302 00:15:05,800 --> 00:15:09,720 Speaker 1: The newly elected Mayor Zoran Mamdani aims to freeze the 303 00:15:09,760 --> 00:15:13,440 Speaker 1: rents on the one million rent stabilized apartments in New 304 00:15:13,480 --> 00:15:17,600 Speaker 1: York City. As the terms are often conflated, I wanted 305 00:15:17,640 --> 00:15:21,640 Speaker 1: Ali Mohammad to explain the difference between rent controlled and 306 00:15:21,720 --> 00:15:22,840 Speaker 1: rent stabilized. 307 00:15:23,480 --> 00:15:28,720 Speaker 2: So rent stabilized is typically buildings that were built before 308 00:15:29,040 --> 00:15:32,880 Speaker 2: nineteen seventy four that have six or more units, and 309 00:15:33,560 --> 00:15:37,840 Speaker 2: rent controlled are very specific units that were built before 310 00:15:37,920 --> 00:15:41,080 Speaker 2: nineteen forty seven, where there I might get the years 311 00:15:41,080 --> 00:15:43,560 Speaker 2: wrong one or two, but built before nineteen forty seven 312 00:15:43,600 --> 00:15:47,400 Speaker 2: where there has been a continuous tenant since nineteen seventy one. 313 00:15:48,080 --> 00:15:50,880 Speaker 2: So if you've lived in your apartment since nineteen seventy 314 00:15:50,920 --> 00:15:53,520 Speaker 2: one and the building was built before nineteen forty seven, 315 00:15:53,840 --> 00:15:56,120 Speaker 2: you might have a rent control department. Now, there's only 316 00:15:56,160 --> 00:15:59,040 Speaker 2: about sixteen thousand rent control departments left in New York City, 317 00:15:59,120 --> 00:16:02,360 Speaker 2: and that's because when that continuous tenant who most likely 318 00:16:02,400 --> 00:16:05,960 Speaker 2: passes away that rent control department converts into a rent 319 00:16:06,040 --> 00:16:09,160 Speaker 2: stabilized apartment. So that's just a different regulation status, but 320 00:16:09,160 --> 00:16:11,960 Speaker 2: they have many of the similar protections that the rent 321 00:16:11,960 --> 00:16:15,160 Speaker 2: control departments are going to be. Those eighty dollars apartments 322 00:16:15,840 --> 00:16:19,320 Speaker 2: in Manhattan, and the rent stabilized apartments are not necessarily affordable, 323 00:16:19,360 --> 00:16:21,040 Speaker 2: and I think this is a common myth in New York. 324 00:16:20,960 --> 00:16:21,400 Speaker 1: City as well. 325 00:16:22,240 --> 00:16:26,360 Speaker 2: So rent stabilized is just giving you protections against really 326 00:16:26,440 --> 00:16:29,560 Speaker 2: crazy rent increases, and it protects you against the landlord saying, oh, 327 00:16:29,600 --> 00:16:31,720 Speaker 2: I'm not renewing you. You have to leave. That's all 328 00:16:31,800 --> 00:16:35,160 Speaker 2: rent stabilization does, but it doesn't mean affordable. The most 329 00:16:35,200 --> 00:16:38,560 Speaker 2: expensive rent stabilized apartment on record is fifty thousand dollars 330 00:16:38,920 --> 00:16:41,760 Speaker 2: a month per month, and that is because over the 331 00:16:41,880 --> 00:16:44,600 Speaker 2: years there have been these tax abatement programs. For example, 332 00:16:44,800 --> 00:16:47,240 Speaker 2: where developers build a building they don't have to pay 333 00:16:47,240 --> 00:16:50,160 Speaker 2: property taxes for thirty forty years if they make the 334 00:16:50,160 --> 00:16:53,200 Speaker 2: building rent stabilized. So it's still very common that you 335 00:16:53,240 --> 00:16:56,280 Speaker 2: will see, you know, these units in Hudson Yards that 336 00:16:56,320 --> 00:16:59,240 Speaker 2: are rent stabilized, but you do have those protections against 337 00:16:59,400 --> 00:17:00,400 Speaker 2: large rent increases. 338 00:17:01,240 --> 00:17:03,640 Speaker 1: Now many many people come in I'm talking about the 339 00:17:03,640 --> 00:17:06,439 Speaker 1: mayor's race in Mondani and they come in and they 340 00:17:06,440 --> 00:17:09,280 Speaker 1: have a lot of hopes and they advertise a lot 341 00:17:09,320 --> 00:17:11,600 Speaker 1: about what they intend to do. What do you think 342 00:17:11,640 --> 00:17:14,040 Speaker 1: that's achievable? From Mom, Donnie, what would you like to 343 00:17:14,080 --> 00:17:14,520 Speaker 1: see him do? 344 00:17:15,200 --> 00:17:18,320 Speaker 2: I would love to see his plan of building two 345 00:17:18,440 --> 00:17:20,679 Speaker 2: hundred thousand affordable units in New York City where they 346 00:17:20,720 --> 00:17:23,920 Speaker 2: go all across the five boroughs. No neighborhood is going 347 00:17:23,960 --> 00:17:27,280 Speaker 2: to be immune from getting affordable units built. And this 348 00:17:27,440 --> 00:17:29,840 Speaker 2: has been one of the biggest debates in New York City. Oh, 349 00:17:29,880 --> 00:17:32,719 Speaker 2: we don't want an affordable housing unit building in Soho. 350 00:17:32,800 --> 00:17:35,320 Speaker 2: We don't want affordable housing built on the Upper West Side. 351 00:17:35,600 --> 00:17:37,360 Speaker 2: We really need to come together as a community. 352 00:17:37,560 --> 00:17:39,320 Speaker 1: See a lot of affordable housing on the Upper West 353 00:17:39,320 --> 00:17:42,080 Speaker 1: Side now as it is, there's a lot of housing authority. 354 00:17:42,080 --> 00:17:43,359 Speaker 1: I lived on a I used to live in the 355 00:17:43,400 --> 00:17:47,080 Speaker 1: El Dorado for twenty years and in that West nineties 356 00:17:47,119 --> 00:17:49,159 Speaker 1: area there was a lot of public housing. 357 00:17:49,520 --> 00:17:52,280 Speaker 2: There is, but there's not enough. When you look at 358 00:17:52,320 --> 00:17:55,399 Speaker 2: how the city has grown, and the vacancy rate in 359 00:17:55,400 --> 00:17:59,000 Speaker 2: New York City is sub two percent, There's not enough housing. 360 00:17:59,040 --> 00:18:00,879 Speaker 2: So I would like to see those two hundred thousand 361 00:18:00,920 --> 00:18:03,840 Speaker 2: units built all across the city in the places where 362 00:18:03,840 --> 00:18:06,840 Speaker 2: it's going to have the most impact. Right now, there's 363 00:18:06,920 --> 00:18:08,840 Speaker 2: challenges and need to make sure if you build those homes, 364 00:18:08,840 --> 00:18:12,720 Speaker 2: there's infrastructure to support it, schools, transportation, all of those things. 365 00:18:12,720 --> 00:18:15,439 Speaker 2: But if he can really execute on this vision, the 366 00:18:15,480 --> 00:18:17,240 Speaker 2: city is going to be in a much better place 367 00:18:17,280 --> 00:18:18,000 Speaker 2: than when it started. 368 00:18:18,880 --> 00:18:21,080 Speaker 1: You look at the city and you say, going in 369 00:18:21,160 --> 00:18:25,520 Speaker 1: across all five burroughs, and I'm assuming there's some watchdogs 370 00:18:25,560 --> 00:18:28,359 Speaker 1: groups like your own similar where the mission is to 371 00:18:28,400 --> 00:18:31,480 Speaker 1: locate where more likely could that go? You either have 372 00:18:31,520 --> 00:18:36,040 Speaker 1: to identify a insignificant amount of open land that's there 373 00:18:36,080 --> 00:18:40,000 Speaker 1: to build houses on within reason, or you're going to 374 00:18:40,000 --> 00:18:44,280 Speaker 1: tear something down. When Columbia decided to expand their campus 375 00:18:44,320 --> 00:18:46,760 Speaker 1: and they went and bought all these muffler shops or 376 00:18:46,760 --> 00:18:49,200 Speaker 1: whatever was up there adjacent to them and ripped everything down, 377 00:18:49,240 --> 00:18:51,639 Speaker 1: ripped down like a whole block, yep. And they're going 378 00:18:51,720 --> 00:18:54,680 Speaker 1: to do like the wall and have more wall and everything, 379 00:18:54,800 --> 00:18:57,960 Speaker 1: you know, their campus, their private campus. Where do you 380 00:18:58,000 --> 00:19:01,120 Speaker 1: think the housing can be built quickest? 381 00:19:01,440 --> 00:19:03,560 Speaker 2: Yeah, it's a great question. Even you know to your 382 00:19:03,600 --> 00:19:06,600 Speaker 2: comment about Columbia, they have a very dark history when 383 00:19:06,640 --> 00:19:10,240 Speaker 2: it comes to their expansion and displacing communities. I think 384 00:19:10,240 --> 00:19:12,160 Speaker 2: we need to be really intentional that if we're going 385 00:19:12,160 --> 00:19:15,040 Speaker 2: to be aggressive with this plan to build housing, it 386 00:19:15,080 --> 00:19:18,080 Speaker 2: needs to make sure it's taking into consideration the wants 387 00:19:18,119 --> 00:19:21,400 Speaker 2: of the community. Give you an example in Bedstide, there 388 00:19:21,480 --> 00:19:23,920 Speaker 2: was a project to build an affordable housing building in 389 00:19:23,960 --> 00:19:27,200 Speaker 2: a parking lot beside a church, and there were protests 390 00:19:27,280 --> 00:19:29,800 Speaker 2: and people were upset about this. How could you build 391 00:19:29,800 --> 00:19:31,640 Speaker 2: this beside the church. We weren't tearing down the church 392 00:19:31,720 --> 00:19:33,800 Speaker 2: or anything like that. This was a vacant parking lot 393 00:19:33,840 --> 00:19:36,320 Speaker 2: that hadn't been used. And there are places like that 394 00:19:36,359 --> 00:19:38,399 Speaker 2: all across the city. My friends and family hate me 395 00:19:38,400 --> 00:19:40,240 Speaker 2: because every time we're walking somewhere in New York, I'm like, 396 00:19:40,280 --> 00:19:42,720 Speaker 2: that could be housing. That could be housing. This could 397 00:19:42,720 --> 00:19:46,359 Speaker 2: be housing. It's abandoned parking lots, even in Manhattan. So 398 00:19:46,680 --> 00:19:49,440 Speaker 2: I think that there's a lot of opportunities to build 399 00:19:49,440 --> 00:19:53,639 Speaker 2: the housing that we need without displacing or changing, you know, 400 00:19:53,680 --> 00:19:55,800 Speaker 2: the culture and facade of the neighborhoods that we hold. 401 00:19:55,800 --> 00:19:57,879 Speaker 1: Dear, you're doing that work to your knowledge, now of 402 00:19:57,960 --> 00:20:00,000 Speaker 1: identifying where the housing can go. Is there a group 403 00:20:00,160 --> 00:20:03,400 Speaker 1: you work with or admire or are aware of who. 404 00:20:03,200 --> 00:20:06,960 Speaker 2: Is Yeah, you know, citing that city council members, there's 405 00:20:07,000 --> 00:20:09,720 Speaker 2: a lot of city council members that are taking this 406 00:20:09,880 --> 00:20:13,640 Speaker 2: task really seriously. One or two Tosa, for example, he's 407 00:20:13,680 --> 00:20:16,959 Speaker 2: a city council member in BADSTI who was behind that 408 00:20:17,040 --> 00:20:19,800 Speaker 2: project close to the church. And I would really encourage 409 00:20:19,800 --> 00:20:23,240 Speaker 2: other council members to follow suit and identify those development 410 00:20:23,280 --> 00:20:25,720 Speaker 2: areas in their community and do it in a way 411 00:20:25,760 --> 00:20:29,120 Speaker 2: with public input, of course, but with a sense of urgency, 412 00:20:29,400 --> 00:20:32,239 Speaker 2: because we don't have five years to just argue and 413 00:20:32,280 --> 00:20:36,400 Speaker 2: debate what color the brick should be. We need housing yesterday. 414 00:20:37,119 --> 00:20:40,920 Speaker 1: Well, in that way, that real estate is always someone's equity. 415 00:20:41,600 --> 00:20:44,760 Speaker 1: There's a town I work in in a film festival culture, 416 00:20:45,200 --> 00:20:48,040 Speaker 1: and there's a movie theater there which does okay in 417 00:20:48,080 --> 00:20:50,760 Speaker 1: the captive summer months. This is out on Long Island. 418 00:20:51,160 --> 00:20:53,520 Speaker 1: The guy that owns the theater, he's never going to 419 00:20:53,560 --> 00:20:56,320 Speaker 1: sell it to us, never we've begged him. We've gotten 420 00:20:56,359 --> 00:20:58,960 Speaker 1: people with a lot of money, some rich monsters of 421 00:20:59,000 --> 00:21:01,439 Speaker 1: our activities. We thought we could work it out. Had 422 00:21:01,480 --> 00:21:04,280 Speaker 1: a number that made sense for everybody. But it didn't 423 00:21:04,320 --> 00:21:06,200 Speaker 1: matter what the number was, he was. And you always 424 00:21:06,240 --> 00:21:08,920 Speaker 1: realize that there are people out there, a huge number 425 00:21:08,960 --> 00:21:11,880 Speaker 1: of them, who are never selling their land or their property. 426 00:21:12,160 --> 00:21:13,800 Speaker 1: This is of a value them they think is only 427 00:21:13,800 --> 00:21:15,439 Speaker 1: going to go up. Is that a problem you come 428 00:21:15,480 --> 00:21:16,360 Speaker 1: up with in New York. 429 00:21:16,880 --> 00:21:18,960 Speaker 2: You know, it's a good point with the theater example. 430 00:21:19,280 --> 00:21:22,480 Speaker 2: Real estate is emotional. In New York City. It is emotional, 431 00:21:22,560 --> 00:21:25,479 Speaker 2: and anybody who's bought or sold a home knows this. 432 00:21:25,560 --> 00:21:27,760 Speaker 2: People think their houses are worth way more than it 433 00:21:27,800 --> 00:21:30,480 Speaker 2: actually is because of the childhood memories you have from that. 434 00:21:30,720 --> 00:21:33,480 Speaker 2: It's just not true. I would say in New York 435 00:21:33,520 --> 00:21:36,960 Speaker 2: City you do see a lot of buildings change hands. 436 00:21:36,960 --> 00:21:38,879 Speaker 2: I don't think you have the same stubbornness when it 437 00:21:38,920 --> 00:21:41,399 Speaker 2: comes to real estate because it is a business. But 438 00:21:41,960 --> 00:21:43,800 Speaker 2: the investors that have done the best are the ones 439 00:21:43,840 --> 00:21:46,640 Speaker 2: that have bought and held and never sold. And this 440 00:21:46,680 --> 00:21:48,280 Speaker 2: is where you see the most success in New York 441 00:21:48,280 --> 00:21:51,080 Speaker 2: City real estate portfolios. You bought a couple buildings in 442 00:21:51,080 --> 00:21:53,159 Speaker 2: the fifties, bought a couple buildings in the sixties, and 443 00:21:53,160 --> 00:21:55,960 Speaker 2: you kept just building the portfolio. So maybe there is 444 00:21:55,960 --> 00:21:58,000 Speaker 2: a little bit of stubbornness. But the buildings in New 445 00:21:58,040 --> 00:22:00,879 Speaker 2: York City are already residential units, right, so you don't 446 00:22:00,880 --> 00:22:03,880 Speaker 2: have this. You know, the garage owner won't sell because 447 00:22:03,920 --> 00:22:05,800 Speaker 2: we want to build housing. I don't think that's true. 448 00:22:05,800 --> 00:22:07,800 Speaker 2: I think a lot of those businesses they do end 449 00:22:07,880 --> 00:22:10,359 Speaker 2: up selling to developers and getting those buildings built. 450 00:22:13,400 --> 00:22:18,880 Speaker 1: Co founder and CEO of open iglu Alia Mohammad. If 451 00:22:18,880 --> 00:22:22,040 Speaker 1: you're enjoying this conversation, tell a friend and be sure 452 00:22:22,080 --> 00:22:26,360 Speaker 1: to follow Here's the thing on the iHeartRadio app, Spotify 453 00:22:26,920 --> 00:22:30,840 Speaker 1: or wherever you get your podcasts. When we come back, 454 00:22:30,920 --> 00:22:34,880 Speaker 1: Mohammad tells us how to find a rent stabilized apartment 455 00:22:35,119 --> 00:22:49,240 Speaker 1: in New York City. I'm Alec Baldwin, and this is 456 00:22:49,280 --> 00:22:53,600 Speaker 1: here's the thing. When open igloo first began in twenty twenty, 457 00:22:54,040 --> 00:22:57,480 Speaker 1: its primary goal was to bring transparency to the New 458 00:22:57,560 --> 00:23:02,760 Speaker 1: York City rental market help for renters. Open Igloo provides 459 00:23:02,800 --> 00:23:07,000 Speaker 1: a platform for tenants to review their landlords and buildings. 460 00:23:08,000 --> 00:23:11,800 Speaker 1: By twenty twenty two, open igloo was listed as one 461 00:23:11,840 --> 00:23:14,280 Speaker 1: of the top one hundred apps in the App Store, 462 00:23:14,680 --> 00:23:17,880 Speaker 1: and since then has grown to help millions of renters 463 00:23:17,880 --> 00:23:22,400 Speaker 1: in the Five Boroughs with such success. I was curious 464 00:23:22,440 --> 00:23:26,879 Speaker 1: how Alia plans to grow open Igloo beyond her original mission. 465 00:23:27,359 --> 00:23:29,280 Speaker 2: I got asked all the time, when is open agglu 466 00:23:29,400 --> 00:23:33,200 Speaker 2: gonna expand beyond even New York City. So we started 467 00:23:33,320 --> 00:23:36,560 Speaker 2: the platform to help renters do research, and we've really 468 00:23:36,600 --> 00:23:39,560 Speaker 2: evolved into a platform where people can find an apartment. 469 00:23:39,920 --> 00:23:42,240 Speaker 2: And when I say that, I mean do the research, 470 00:23:42,680 --> 00:23:45,800 Speaker 2: find the apartment, schedule the tour, apply for the apartment, 471 00:23:45,920 --> 00:23:50,040 Speaker 2: pay sign all within a digital and transparent platform, because 472 00:23:50,040 --> 00:23:52,679 Speaker 2: what we commonly hear from New York City renters is 473 00:23:52,680 --> 00:23:55,320 Speaker 2: the scams. Okay, I found the apartment, I scheduled the tour, 474 00:23:55,680 --> 00:23:58,880 Speaker 2: the broker ignored me, never showed up. Or I applied 475 00:23:58,880 --> 00:24:01,359 Speaker 2: for the apartment but there were fifty other applications and 476 00:24:01,440 --> 00:24:03,119 Speaker 2: I didn't get it, or there was a bidding war, 477 00:24:03,240 --> 00:24:05,520 Speaker 2: or it was a made up scam to begin with. 478 00:24:05,840 --> 00:24:08,040 Speaker 2: So these are the challenges we really want to tackle 479 00:24:08,119 --> 00:24:10,720 Speaker 2: for renters and help them not just during the due 480 00:24:10,720 --> 00:24:14,719 Speaker 2: diligence phase, but really throughout their entire rental journey, and 481 00:24:14,800 --> 00:24:16,879 Speaker 2: not just for their first apartment, but for their second 482 00:24:16,880 --> 00:24:18,960 Speaker 2: apartment and their third apartment. I think the thing that 483 00:24:18,960 --> 00:24:21,919 Speaker 2: always frustrated me was Why is it so hard to 484 00:24:21,960 --> 00:24:24,399 Speaker 2: get an apartment the second apartment. I just already have 485 00:24:24,560 --> 00:24:26,920 Speaker 2: one year of rent payment history. I'm a good tenant, 486 00:24:26,960 --> 00:24:28,720 Speaker 2: everything's good. Why do we need to go through the 487 00:24:28,760 --> 00:24:32,040 Speaker 2: same application system all over again. So I think if 488 00:24:32,040 --> 00:24:35,119 Speaker 2: we really scale open Igloo to make it this digital platform, 489 00:24:35,320 --> 00:24:38,040 Speaker 2: we can make it a lot easier for renters all 490 00:24:38,080 --> 00:24:38,800 Speaker 2: across the country. 491 00:24:39,160 --> 00:24:43,159 Speaker 1: How much does an organization like yours at least attempt 492 00:24:43,280 --> 00:24:47,560 Speaker 1: to locate housing for people outside the Five boroughs? You 493 00:24:47,600 --> 00:24:49,160 Speaker 1: want to say to them, here's some things that are 494 00:24:49,160 --> 00:24:53,760 Speaker 1: more affordable for you in New Jersey, in Westchester Lower Westchester. 495 00:24:54,280 --> 00:24:56,960 Speaker 1: Are there areas where the City of New York could 496 00:24:56,960 --> 00:24:59,960 Speaker 1: be cooperating with other cities and other states in terms 497 00:25:00,080 --> 00:25:03,240 Speaker 1: of building affordable housing outside of the. 498 00:25:03,160 --> 00:25:06,439 Speaker 2: Five borough Absolutely, I mean you've definitely seen this happen 499 00:25:06,480 --> 00:25:09,199 Speaker 2: with New Jersey, a lot of New Yorkers moving to 500 00:25:09,400 --> 00:25:12,280 Speaker 2: Jersey City, Hoboken, even deeper into Jersey be definitely more 501 00:25:12,280 --> 00:25:14,399 Speaker 2: affordable in New York City. But also the quality. Right 502 00:25:14,440 --> 00:25:16,000 Speaker 2: you talk to anybody who lives in Hoboken, They're like, 503 00:25:16,040 --> 00:25:17,359 Speaker 2: I've got a pool, and I got a gym, and 504 00:25:17,400 --> 00:25:19,680 Speaker 2: i got a rooftop and I'm paying twenty two hundred 505 00:25:19,680 --> 00:25:22,439 Speaker 2: dollars a month, which is considered cheap to your average 506 00:25:22,480 --> 00:25:24,520 Speaker 2: New Yorker who pays for rent here. But I think 507 00:25:24,560 --> 00:25:27,199 Speaker 2: there's definitely room to collaborate with other cities. But what 508 00:25:27,200 --> 00:25:29,000 Speaker 2: I would really like to see the city focus on 509 00:25:29,520 --> 00:25:32,359 Speaker 2: is the Five Boroughs, because there's so much work to 510 00:25:32,359 --> 00:25:35,160 Speaker 2: be done here in the outer Boroughs, in the Bronx, 511 00:25:35,200 --> 00:25:38,120 Speaker 2: in Staten Island. There are opportunities all across the Five 512 00:25:38,119 --> 00:25:41,560 Speaker 2: Boroughs to build more quality, affordable housing for people who 513 00:25:41,600 --> 00:25:43,800 Speaker 2: want to live here. Right, And I hear this all 514 00:25:43,800 --> 00:25:45,960 Speaker 2: the time. If you can't afford to live in New York, 515 00:25:46,119 --> 00:25:49,080 Speaker 2: just go somewhere else? What about New Yorkers? What about 516 00:25:49,080 --> 00:25:51,720 Speaker 2: people who were born and raised here and their families 517 00:25:51,720 --> 00:25:53,840 Speaker 2: are here, and their kids' schools are here. It's not 518 00:25:53,880 --> 00:25:56,120 Speaker 2: as simple as saying, just move to New Jersey. There's 519 00:25:56,160 --> 00:25:58,640 Speaker 2: twenty two hundred dollars apartments over there. We really need 520 00:25:58,680 --> 00:26:01,120 Speaker 2: to solve it within our our own four walls. 521 00:26:01,359 --> 00:26:04,160 Speaker 1: How does somebody find a rent stabilized apartment in New York? 522 00:26:04,960 --> 00:26:08,320 Speaker 2: So funny you ask. So you shared earlier about the 523 00:26:08,359 --> 00:26:11,520 Speaker 2: Village Voice having to circle classifieds, and you know trying 524 00:26:11,560 --> 00:26:13,760 Speaker 2: to know somebody who knows somebody to get your hands 525 00:26:13,760 --> 00:26:14,120 Speaker 2: on one. 526 00:26:14,040 --> 00:26:14,760 Speaker 1: Of these apartments. 527 00:26:15,080 --> 00:26:17,920 Speaker 2: This was the old way of finding rent stabilized apartments 528 00:26:17,920 --> 00:26:20,000 Speaker 2: in New York City. And there's a new way that 529 00:26:20,000 --> 00:26:22,240 Speaker 2: we've been really focused on at Open a glu, which 530 00:26:22,280 --> 00:26:24,480 Speaker 2: is identifying where these vent say they. 531 00:26:24,400 --> 00:26:27,520 Speaker 1: Were previous rather than old. So don't say that's the 532 00:26:27,520 --> 00:26:28,600 Speaker 1: old way, it's the old way. 533 00:26:28,600 --> 00:26:31,800 Speaker 2: To sorry, the former way, the previous way. Thank you, Yes, 534 00:26:31,840 --> 00:26:33,639 Speaker 2: you're welcome. I apologize please. 535 00:26:33,680 --> 00:26:34,560 Speaker 1: So now we you. 536 00:26:34,520 --> 00:26:36,440 Speaker 2: Know, we really want to try and come up with 537 00:26:36,480 --> 00:26:39,520 Speaker 2: a digital and transparent way of identifying these apartments. So 538 00:26:39,680 --> 00:26:42,880 Speaker 2: in New York City, every single landlord is required to 539 00:26:43,240 --> 00:26:46,000 Speaker 2: register their rent stabilized apartments with the state, and we've 540 00:26:46,040 --> 00:26:47,920 Speaker 2: taken that data and we've put it on open a 541 00:26:47,960 --> 00:26:50,040 Speaker 2: Glue so that you can go and you can search 542 00:26:50,080 --> 00:26:53,320 Speaker 2: for I want two bedrooms in this neighborhood at this budget, 543 00:26:53,359 --> 00:26:55,199 Speaker 2: and I want it to be rent stabilized, and we 544 00:26:55,240 --> 00:26:57,399 Speaker 2: will show you all the units that are available that 545 00:26:57,440 --> 00:27:00,320 Speaker 2: are in buildings with those stabilized apartments. There was a 546 00:27:00,320 --> 00:27:02,840 Speaker 2: recent law that passed, the Rental Transparency Act and went 547 00:27:02,880 --> 00:27:06,200 Speaker 2: into effect just this month that requires landlords to post 548 00:27:06,240 --> 00:27:09,360 Speaker 2: notices in their common areas if there are rent stabilized 549 00:27:09,400 --> 00:27:11,400 Speaker 2: apartments in the building. And this law was to try 550 00:27:11,400 --> 00:27:13,520 Speaker 2: and help renters who are already living in the building 551 00:27:13,840 --> 00:27:16,159 Speaker 2: to know if maybe they have a rent stabilized apartment 552 00:27:16,200 --> 00:27:18,520 Speaker 2: and know their rights, et cetera. But it's not really 553 00:27:18,520 --> 00:27:20,600 Speaker 2: that helpful to people who are apartment hunting because you 554 00:27:20,640 --> 00:27:22,320 Speaker 2: don't go door to door and sort of poke your 555 00:27:22,320 --> 00:27:24,520 Speaker 2: hat into these vestibules. So this is one of the 556 00:27:24,560 --> 00:27:26,600 Speaker 2: ways that you can find a stabilized apartment is going 557 00:27:26,640 --> 00:27:27,160 Speaker 2: to opening. 558 00:27:27,200 --> 00:27:29,639 Speaker 1: What's your evaluation to the extent as it relates to 559 00:27:29,720 --> 00:27:32,680 Speaker 1: your work, as it relates to people trying to locate 560 00:27:33,080 --> 00:27:36,359 Speaker 1: even remotely affordable housing. About the real estate companies in 561 00:27:36,840 --> 00:27:41,359 Speaker 1: this city, do they I mean, do real estate companies 562 00:27:41,520 --> 00:27:43,480 Speaker 1: when people go and say to them, I want to 563 00:27:43,480 --> 00:27:45,000 Speaker 1: get in an apartment and you sa, how much I 564 00:27:45,040 --> 00:27:47,920 Speaker 1: have to spend and you're like a normal average person 565 00:27:47,920 --> 00:27:49,760 Speaker 1: who wants to be able to spend twenty five or 566 00:27:49,760 --> 00:27:52,239 Speaker 1: thirty percent of your monthly income on the rent? Are 567 00:27:52,280 --> 00:27:53,879 Speaker 1: they laughing in their faces? And now do the real 568 00:27:53,960 --> 00:27:57,000 Speaker 1: estate community community they don't get it sometimes? 569 00:27:57,080 --> 00:27:59,960 Speaker 2: Right, you definitely have conversations with those brokers that say, oh, 570 00:28:00,119 --> 00:28:03,359 Speaker 2: you're what you're looking for is completely unrealistic, Like I 571 00:28:03,400 --> 00:28:05,479 Speaker 2: can't help you, it's not out there. Yeah, your budget 572 00:28:05,520 --> 00:28:08,960 Speaker 2: is less than two thousand dollars, like good luck, move 573 00:28:09,480 --> 00:28:12,720 Speaker 2: out of state. And you know our answer is yes, 574 00:28:12,960 --> 00:28:16,040 Speaker 2: it is very difficult to find those cheap apartments, but 575 00:28:16,119 --> 00:28:18,960 Speaker 2: it's not impossible. You need to be intentional, you need 576 00:28:19,000 --> 00:28:21,640 Speaker 2: to be focused, and you need to leverage the tools 577 00:28:21,640 --> 00:28:25,119 Speaker 2: that are at your disposal, everything from our platform to 578 00:28:25,280 --> 00:28:28,239 Speaker 2: the affordable housing lotteries to you know, staying close with 579 00:28:28,280 --> 00:28:30,680 Speaker 2: your uncle so that you can inherit the apartment. 580 00:28:31,240 --> 00:28:33,520 Speaker 1: When I was going to school in Washington, which was 581 00:28:33,560 --> 00:28:35,040 Speaker 1: the first city I lived in. When I was in 582 00:28:35,119 --> 00:28:37,800 Speaker 1: DC to go to gw and they were saying, how 583 00:28:37,880 --> 00:28:40,160 Speaker 1: DC was the opposite of New York. We're in DC, 584 00:28:40,800 --> 00:28:42,680 Speaker 1: all the wealth was in the center of town, and 585 00:28:42,720 --> 00:28:45,440 Speaker 1: you lived in the suburbs going outward to Bethesda and 586 00:28:45,480 --> 00:28:49,160 Speaker 1: Silver Spraying and so forth, and the Virginia suburbs, and 587 00:28:49,200 --> 00:28:51,440 Speaker 1: that New York was the opposite of that. All the 588 00:28:51,440 --> 00:28:53,000 Speaker 1: wealth is in the heart of the city, and everybody 589 00:28:53,040 --> 00:28:55,480 Speaker 1: who doesn't have any that has less money and less 590 00:28:55,520 --> 00:28:58,600 Speaker 1: economic opportunity to live outside and the other boroughs. And 591 00:28:58,640 --> 00:29:01,200 Speaker 1: I'm wondering, is there a bor you think is the 592 00:29:01,240 --> 00:29:05,040 Speaker 1: most ready to be redeveloped now with affordable housing the Bronx. 593 00:29:05,400 --> 00:29:09,840 Speaker 2: Perhaps the Bronx definitely, but that comes with a lot 594 00:29:09,840 --> 00:29:12,920 Speaker 2: of challenges. So we've seen projects open up in the 595 00:29:12,920 --> 00:29:14,800 Speaker 2: Bronx that aren't truly affordable. 596 00:29:15,120 --> 00:29:15,320 Speaker 1: Right. 597 00:29:15,640 --> 00:29:18,400 Speaker 2: You look at the area median income for some neighborhoods 598 00:29:18,400 --> 00:29:22,280 Speaker 2: in the Bronx forty fifty thousand dollars a year household 599 00:29:22,280 --> 00:29:25,320 Speaker 2: incomes and the apartments are being priced at thirty one 600 00:29:25,360 --> 00:29:28,520 Speaker 2: hundred thirty five hundred four thousand. Because these brand new, 601 00:29:28,560 --> 00:29:32,240 Speaker 2: beautiful luxury developments. So it's not just enough to build 602 00:29:32,240 --> 00:29:34,800 Speaker 2: the housing. The Bronx got a lot of new housing 603 00:29:34,840 --> 00:29:37,400 Speaker 2: over the past five years. Problem is, no one can 604 00:29:37,440 --> 00:29:39,840 Speaker 2: afford to live in them. So this is something that 605 00:29:39,880 --> 00:29:42,040 Speaker 2: we really need to get to the Crux to But 606 00:29:42,080 --> 00:29:44,240 Speaker 2: the Bronx is a big burrow and there's a lot 607 00:29:44,280 --> 00:29:46,880 Speaker 2: of development opportunities there. My fear is that if we 608 00:29:46,920 --> 00:29:49,440 Speaker 2: continue to build these luxury apartments, we're not actually going 609 00:29:49,520 --> 00:29:50,120 Speaker 2: to solve anything. 610 00:29:50,360 --> 00:29:55,320 Speaker 1: Now there are unscrupulous obviously landlords. I've had a couple 611 00:29:55,360 --> 00:29:57,920 Speaker 1: of not many, And we hear about people who don't 612 00:29:57,920 --> 00:30:01,840 Speaker 1: get their deposits back. What remedies do they have available 613 00:30:01,880 --> 00:30:02,480 Speaker 1: to them. 614 00:30:02,400 --> 00:30:04,520 Speaker 2: If they don't get their deposit back from their landlord. 615 00:30:04,600 --> 00:30:07,000 Speaker 2: It's definitely something that happens in New York City. We 616 00:30:07,040 --> 00:30:10,080 Speaker 2: actually track data about this at open igloo. The good 617 00:30:10,160 --> 00:30:13,440 Speaker 2: thing is that seventy percent of renters report getting their 618 00:30:13,480 --> 00:30:15,800 Speaker 2: complete security deposits back at the end of their lease, 619 00:30:16,240 --> 00:30:18,200 Speaker 2: and it's a thirty percent that don't. And I'm sure 620 00:30:18,200 --> 00:30:20,400 Speaker 2: there's a percentage of those that maybe there was something 621 00:30:20,440 --> 00:30:22,840 Speaker 2: that they did break and something should have been retained. 622 00:30:23,280 --> 00:30:26,920 Speaker 2: But if a landlord unjustly keeps a security deposit, you 623 00:30:27,000 --> 00:30:29,840 Speaker 2: can file a complaint with the Attorney General or you 624 00:30:29,880 --> 00:30:32,920 Speaker 2: can take them to Small Claims court. Within fourteen days 625 00:30:32,920 --> 00:30:34,520 Speaker 2: of your moveout, and this is a law in New 626 00:30:34,600 --> 00:30:36,640 Speaker 2: York City, within fourteen days of your move out, the 627 00:30:36,720 --> 00:30:39,320 Speaker 2: landlord has to send you an itemized receipt of why 628 00:30:39,360 --> 00:30:42,160 Speaker 2: they are keeping or retaining the deposit. And if they 629 00:30:42,160 --> 00:30:44,160 Speaker 2: don't send that to you, they essentially forfeit it back 630 00:30:44,160 --> 00:30:45,720 Speaker 2: to you. So those are the past to try and 631 00:30:45,720 --> 00:30:48,360 Speaker 2: get it back. At open Igluo, we really want renters 632 00:30:48,360 --> 00:30:50,600 Speaker 2: to do research on the landlord before they move in. 633 00:30:51,000 --> 00:30:54,320 Speaker 2: Do they have a reputation for not returning security deposits? 634 00:30:54,440 --> 00:30:56,240 Speaker 2: And this is data that we track and display on 635 00:30:56,280 --> 00:30:58,640 Speaker 2: our platform so that you can avoid those places and 636 00:30:58,680 --> 00:31:00,840 Speaker 2: hopefully avoid of that more of. 637 00:31:00,800 --> 00:31:02,840 Speaker 1: Them that you want to admit too, that we want 638 00:31:02,880 --> 00:31:04,560 Speaker 1: to imagine in terms of that, don't give them their 639 00:31:04,560 --> 00:31:04,960 Speaker 1: money back. 640 00:31:05,000 --> 00:31:08,400 Speaker 2: Absolutely, yeah, definitely, it's it's a common practice. I'm happy 641 00:31:08,440 --> 00:31:11,680 Speaker 2: that it's not as common. It's not the majority of cases, 642 00:31:11,960 --> 00:31:14,840 Speaker 2: but there's definitely landlords that are notorious for never giving 643 00:31:14,840 --> 00:31:17,600 Speaker 2: security deposits back. What renters will commonly do, and this 644 00:31:17,720 --> 00:31:20,280 Speaker 2: is you know, not legal, is they will use the 645 00:31:20,280 --> 00:31:22,840 Speaker 2: security deposit to pay for their last month's rent and 646 00:31:22,880 --> 00:31:25,000 Speaker 2: then they don't have to deal with this, you know, 647 00:31:25,080 --> 00:31:29,720 Speaker 2: potentially confrontanial arrangement. I sort of have a controversial take 648 00:31:29,720 --> 00:31:32,560 Speaker 2: on this where I tell renters do not use your 649 00:31:32,640 --> 00:31:35,000 Speaker 2: security deposit as your last month's rent, because there is 650 00:31:35,040 --> 00:31:37,800 Speaker 2: another law that says you were supposed to earn interest 651 00:31:38,120 --> 00:31:41,880 Speaker 2: on your security deposit. So if you use your security 652 00:31:41,880 --> 00:31:44,760 Speaker 2: deposit to pay last month's rent, you're essentially forfeiting the 653 00:31:44,760 --> 00:31:47,720 Speaker 2: interest that your security deposit earned over that however long 654 00:31:47,760 --> 00:31:50,200 Speaker 2: you lived in the apartment. So that's that's my advice 655 00:31:50,200 --> 00:31:52,200 Speaker 2: to renters, is you know, collect that interest. I know 656 00:31:52,280 --> 00:31:54,360 Speaker 2: it might be little, but if you live somewhere for 657 00:31:54,800 --> 00:31:56,440 Speaker 2: five ten years, it adds up. 658 00:31:56,760 --> 00:31:58,640 Speaker 1: My first department in New York that I bought was 659 00:31:58,680 --> 00:32:01,440 Speaker 1: a condo, and then I moved into the Eldorado. I 660 00:32:01,480 --> 00:32:03,920 Speaker 1: went from a condo to a co op. And now 661 00:32:03,920 --> 00:32:06,080 Speaker 1: I'm in a building that's a condo. And I have 662 00:32:06,160 --> 00:32:08,920 Speaker 1: been told by the brokers we've dealt with and those 663 00:32:08,920 --> 00:32:10,480 Speaker 1: people who've tried to make an offer for us in 664 00:32:10,520 --> 00:32:14,280 Speaker 1: our building that there's much more of an attraction toward 665 00:32:14,680 --> 00:32:16,440 Speaker 1: condos now than co ops because a lot of people 666 00:32:16,440 --> 00:32:17,880 Speaker 1: don't want to pull their pants down and show all 667 00:32:17,880 --> 00:32:20,680 Speaker 1: their finances and everything else, like none of your business, 668 00:32:20,760 --> 00:32:24,880 Speaker 1: you know, exactly. So my building is lower Fifth Avenue, 669 00:32:24,880 --> 00:32:28,480 Speaker 1: and all that east of Fifth Avenue to Broadway area 670 00:32:29,080 --> 00:32:33,320 Speaker 1: near Washington Square, all that area is mostly co ops, 671 00:32:33,680 --> 00:32:36,000 Speaker 1: and the ones that are condos are thriving. Yes, you know, 672 00:32:36,000 --> 00:32:37,680 Speaker 1: everybody wants to come and live at a condo because 673 00:32:37,680 --> 00:32:40,200 Speaker 1: they don't want to deal with the board. And we've 674 00:32:40,200 --> 00:32:42,000 Speaker 1: had a lot of people connumbering our doorbell and ask 675 00:32:42,040 --> 00:32:42,960 Speaker 1: us to buy our apartment. 676 00:32:43,000 --> 00:32:45,040 Speaker 2: Don't get me started on the co ops. And it's 677 00:32:45,080 --> 00:32:47,920 Speaker 2: one of those things, Alec that I tell renters never 678 00:32:48,000 --> 00:32:48,960 Speaker 2: rent in a co op. 679 00:32:49,040 --> 00:32:51,760 Speaker 1: Let's get you started. Go ahead, let me start this rant. 680 00:32:52,040 --> 00:32:54,520 Speaker 2: You know, co ops are great, they're beautiful, right, some 681 00:32:54,880 --> 00:32:57,800 Speaker 2: of them are beautifully maintained. But when you're a renter 682 00:32:57,920 --> 00:32:59,440 Speaker 2: in a co op, it's difficult enough to be an 683 00:32:59,440 --> 00:33:01,040 Speaker 2: owner in a car, right, But if you're a renter 684 00:33:01,120 --> 00:33:03,200 Speaker 2: and a co op, it's a whole different story. Why 685 00:33:03,240 --> 00:33:07,360 Speaker 2: because you are not protected against a lot of things 686 00:33:07,400 --> 00:33:10,280 Speaker 2: that renters are protected against in normal buildings. So i'll 687 00:33:10,280 --> 00:33:12,720 Speaker 2: give you an example. In New York City, the maximum 688 00:33:12,720 --> 00:33:14,640 Speaker 2: that a landlord can charge on a rental application is 689 00:33:14,680 --> 00:33:18,200 Speaker 2: twenty dollars simple credit check, background check, et cetera. In 690 00:33:18,240 --> 00:33:20,720 Speaker 2: a co op. There is no cap in condos as well, 691 00:33:20,880 --> 00:33:22,960 Speaker 2: So co ops can charge one thousand dollars for a 692 00:33:22,960 --> 00:33:25,960 Speaker 2: rental application two thousand dollars, and they will. And it's 693 00:33:26,040 --> 00:33:29,920 Speaker 2: essentially this way of discriminating against renters, to say we 694 00:33:29,960 --> 00:33:32,040 Speaker 2: don't like renters here, and if you can't afford the 695 00:33:32,080 --> 00:33:35,320 Speaker 2: non refuehightory, yes, if you can't afford the non refundable 696 00:33:35,320 --> 00:33:38,600 Speaker 2: two thousand dollars application, we don't want you here. And 697 00:33:38,800 --> 00:33:41,560 Speaker 2: I think there's something that's got something's got to change there. 698 00:33:41,680 --> 00:33:44,200 Speaker 2: Even term limits, right, A lot of co ops have 699 00:33:44,800 --> 00:33:47,360 Speaker 2: rules that an owner can only sublet their unit for 700 00:33:47,360 --> 00:33:49,320 Speaker 2: two years at a time. So as a renter, you 701 00:33:49,400 --> 00:33:51,680 Speaker 2: move in, you're just kind of getting settled. You've already 702 00:33:51,680 --> 00:33:53,800 Speaker 2: paid all of these fees, and two years later you 703 00:33:53,840 --> 00:33:55,640 Speaker 2: have to leave because of board rules. So I think 704 00:33:55,640 --> 00:33:58,520 Speaker 2: from a renter's perspective, living and renting in a co 705 00:33:58,560 --> 00:33:59,880 Speaker 2: op is a no no for me. 706 00:34:00,240 --> 00:34:02,120 Speaker 1: What do you know about the air conditioning situation in 707 00:34:02,120 --> 00:34:03,000 Speaker 1: New York that's coming up. 708 00:34:03,360 --> 00:34:05,800 Speaker 2: I have been talking about this for years and years. 709 00:34:05,840 --> 00:34:07,920 Speaker 2: So in New York City, there's very strict heat laws. 710 00:34:08,000 --> 00:34:08,160 Speaker 1: Right. 711 00:34:08,640 --> 00:34:11,640 Speaker 2: New York City landlords are legally obligated to make sure 712 00:34:11,680 --> 00:34:14,920 Speaker 2: that their renters have working in sufficient heat because, as 713 00:34:14,960 --> 00:34:17,960 Speaker 2: we're seeing, winter can be dangerous and people do die 714 00:34:18,040 --> 00:34:21,320 Speaker 2: in their apartments, especially vulnerable elderly New Yorkers. There's a 715 00:34:21,360 --> 00:34:24,400 Speaker 2: law to propose something similar for air conditioning. Anyone that 716 00:34:24,440 --> 00:34:27,439 Speaker 2: has spent a summer in New York City knows how 717 00:34:28,239 --> 00:34:32,120 Speaker 2: disgustingly hot it can be, but also dangerously hot. 718 00:34:32,200 --> 00:34:32,399 Speaker 1: Right. 719 00:34:32,480 --> 00:34:36,000 Speaker 2: So a lot of New Yorkers they live without air conditioning, 720 00:34:36,280 --> 00:34:38,959 Speaker 2: and this law would propose that landlords have those same 721 00:34:39,000 --> 00:34:41,719 Speaker 2: obligations to air conditioning as they do to heat. Now, 722 00:34:41,760 --> 00:34:44,600 Speaker 2: they wouldn't necessarily be obligated to pay for the air 723 00:34:44,600 --> 00:34:47,600 Speaker 2: conditioning the electrical bill, for example, from running the air conditioner, 724 00:34:47,840 --> 00:34:50,759 Speaker 2: but making sure that the apartment is outfitted with an 725 00:34:50,760 --> 00:34:53,479 Speaker 2: air conditioner. But in New York City, for example, every 726 00:34:53,480 --> 00:34:56,359 Speaker 2: single summer, cooling centers open up all around the city. 727 00:34:56,360 --> 00:34:58,440 Speaker 1: Are cooling buses, Yes, you're. 728 00:34:58,640 --> 00:35:01,200 Speaker 2: The cooling buses. They have doing the same thing right now. 729 00:35:01,280 --> 00:35:04,640 Speaker 2: During this cold spurt, warming buses all of its buses 730 00:35:04,640 --> 00:35:08,279 Speaker 2: to warming buses. Hospitals turn into warming centers twenty four 731 00:35:08,280 --> 00:35:11,760 Speaker 2: to seven. And this is crazy. It means that people 732 00:35:12,200 --> 00:35:15,399 Speaker 2: live in apartments where they're not getting sufficient heat or 733 00:35:15,440 --> 00:35:17,240 Speaker 2: they're not being able to stay cool, and they actually 734 00:35:17,320 --> 00:35:19,200 Speaker 2: have to go to one of these public buildings. 735 00:35:19,440 --> 00:35:21,440 Speaker 1: That's talk about the lottery. It's talking about the lottery. 736 00:35:21,480 --> 00:35:23,400 Speaker 1: What is your assessment of the lottery? Yeah? 737 00:35:23,400 --> 00:35:26,680 Speaker 2: Interesting, So New York City has something called the Affordable 738 00:35:26,680 --> 00:35:29,360 Speaker 2: Housing Lottery. So a lot of these new construction buildings 739 00:35:29,400 --> 00:35:31,440 Speaker 2: that go up, a percentage of the units need to 740 00:35:31,480 --> 00:35:34,560 Speaker 2: be allocated for the Affordable Housing Lottery and they are 741 00:35:34,600 --> 00:35:39,279 Speaker 2: given to New Yorkers that meet certain income restrictions. Right, 742 00:35:39,560 --> 00:35:42,120 Speaker 2: it's been a very successful program. There have been hundreds 743 00:35:42,120 --> 00:35:44,000 Speaker 2: of thousands of New Yorkers that have been placed in 744 00:35:44,040 --> 00:35:47,120 Speaker 2: these units, but it also has some criticisms. Right the 745 00:35:47,200 --> 00:35:49,640 Speaker 2: time it takes to get placed. If you make even 746 00:35:49,719 --> 00:35:52,439 Speaker 2: a penny more than what the band is, you don't 747 00:35:52,440 --> 00:35:55,560 Speaker 2: get the apartment. Also, some of these bands are allocated 748 00:35:55,600 --> 00:35:58,480 Speaker 2: to people who make one hundred and fifty one hundred 749 00:35:58,480 --> 00:36:01,040 Speaker 2: and sixty five thousand dollars a year, which by New 750 00:36:01,120 --> 00:36:04,080 Speaker 2: York standards doesn't mean you're a very wealthy person. But 751 00:36:04,160 --> 00:36:06,640 Speaker 2: it leaves a lot of questions as to why do 752 00:36:06,680 --> 00:36:09,319 Speaker 2: we need an affordable housing lottery to house people that 753 00:36:09,360 --> 00:36:12,680 Speaker 2: are making six figures? What about people that make lower incomes? 754 00:36:12,760 --> 00:36:15,000 Speaker 2: So a lot of criticisms of the program. There was 755 00:36:15,040 --> 00:36:18,160 Speaker 2: a recent change, for example, where a person that got 756 00:36:18,200 --> 00:36:21,200 Speaker 2: placed in an affordable housing lottery, if they moved out, 757 00:36:21,680 --> 00:36:23,920 Speaker 2: that unit used to have to go back into the lottery. 758 00:36:23,960 --> 00:36:25,640 Speaker 2: And what would end up happening is that unit would 759 00:36:25,640 --> 00:36:27,960 Speaker 2: stay empty for months and months. And they've changed the 760 00:36:28,040 --> 00:36:31,200 Speaker 2: law temporarily so that people can just apply directly, first come, 761 00:36:31,239 --> 00:36:33,640 Speaker 2: per serve, so we can get that turn happened a 762 00:36:33,640 --> 00:36:34,320 Speaker 2: little bit faster. 763 00:36:35,040 --> 00:36:38,239 Speaker 1: This takes me back to the earliest days of my 764 00:36:38,760 --> 00:36:41,120 Speaker 1: young days in New York. My uncle lived in his apartment, 765 00:36:41,160 --> 00:36:43,520 Speaker 1: him and my father. They were from Fort Green, the 766 00:36:43,520 --> 00:36:45,560 Speaker 1: old Fort Grain, But I grew up and spent a 767 00:36:45,560 --> 00:36:47,360 Speaker 1: lot of time there as a child with my father's parents, 768 00:36:47,360 --> 00:36:50,040 Speaker 1: and my uncle lived in Manhattan for years and got 769 00:36:50,080 --> 00:36:54,120 Speaker 1: in an apartment of rent, stabilized apartment with very modest rent. 770 00:36:54,600 --> 00:36:58,120 Speaker 1: People don't understand that in New York, with some modest exceptions, 771 00:36:58,120 --> 00:37:01,160 Speaker 1: whether it's a terrace or a comunity garden, whatever, then 772 00:37:01,160 --> 00:37:04,680 Speaker 1: in New York your home is pretty modest. And in California, 773 00:37:04,719 --> 00:37:06,120 Speaker 1: you go out and the sun's on you and you're 774 00:37:06,160 --> 00:37:08,080 Speaker 1: going to grow your tomatoes or whatever the hell. But 775 00:37:08,160 --> 00:37:10,440 Speaker 1: in New York, you've got to open the door and 776 00:37:10,480 --> 00:37:12,600 Speaker 1: close the door behind you when it's your home and 777 00:37:12,640 --> 00:37:16,560 Speaker 1: your way. A home in New York is precious, and 778 00:37:16,600 --> 00:37:18,839 Speaker 1: I've always been taken with that idea of you know, 779 00:37:18,960 --> 00:37:22,080 Speaker 1: you close that door and you have peace and you 780 00:37:22,200 --> 00:37:24,919 Speaker 1: have security and I think the work that you're doing 781 00:37:25,000 --> 00:37:27,359 Speaker 1: is amazing. I think it's amazing. Thank you very much. 782 00:37:27,440 --> 00:37:29,719 Speaker 1: And it's just for all the downtown work you did. 783 00:37:29,840 --> 00:37:33,000 Speaker 2: Yes, I'm making up for my bad past. 784 00:37:34,160 --> 00:37:35,680 Speaker 1: Thank you so much for doing this with us. 785 00:37:35,760 --> 00:37:38,080 Speaker 2: Thank you for having me. It was such an amazing conversation. 786 00:37:40,920 --> 00:37:45,440 Speaker 1: My thanks to open igloos Alia Mohammad. This episode was 787 00:37:45,480 --> 00:37:49,440 Speaker 1: recorded at CDM Studios in New York City. We're produced 788 00:37:49,440 --> 00:37:53,799 Speaker 1: by Kathleen Russo, Zach McNeice, and Victoria de Martin. Our 789 00:37:53,880 --> 00:37:57,840 Speaker 1: engineer is Isaac Kaplin Woolner. Our social media manager is 790 00:37:57,960 --> 00:38:01,239 Speaker 1: Danielle Gingwich. I'm Alec Bald and here's the thing is 791 00:38:01,280 --> 00:38:03,440 Speaker 1: brought to you by iHeart Radio