NYC Rent Guidelines Board raises costs of rent stabilized apartments.
© Aaron E. Martinez/El Paso Times via Imagn Content Services, LLC
(New York, NY) – The City’s Rent Guidelines Board voted Monday night to approve increases for rent-stabilized apartments. The board passed a 2.75% increase for one-year leases and a 5.25% increase on two-year leases. The decision impacts roughly 2 million New Yorkers. The increases will affect rent-stabilized leases that begin on or after Oct. 1.
The Legal Aid Society said the Rent Guidelines Board should not only have voted the proposal down but also should have frozen rent for all stabilized renters. Protests were held before the vote at Hunter College. Many felt the move would lead to evictions or people fleeing the city for more affordable places to live.
“It can mean the difference between food and being able to even see a doctor to get the care that’s going to keep me alive,” said one tenant. Landlords defended the vote, stating may buildings are approaching 100 years old. Upkeep, maintenance, meeting escalating costs, increases in taxes, insurance, water, sewer rates, inflation are all taking a toll.
