Rent-Stabilized Housing Hikes Are Approved

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The New York Sun

City residents who have one-year leases in rent-stabilized housing can expect to see their rents rise between 3.5% and 7%, and those with two-year leases will see increases of between 5.5% and 9.5%, following a 5-4 vote last night by the Rent Guidelines Board.

The board is composed of nine members appointed by the mayor, with two representing tenants, two representing landlords, and five representing the general public.

Tenant organizations regularly oppose any rent increases, while building owners have said that rent hikes are needed to cover rising costs.

The meetings are usually raucous affairs, and in the past tenant activists have shut down meetings with their protests.

Last night’s meeting was relatively calm, with fewer than 50 tenants and owners combined attending.

The director of government affairs for the Rent Stabilization Association, Frank Ricci, said the increases voted on last night were not enough.

“It’s very inadequate in our opinion. We were asking between 10% and 15%, or at least a minimum of $60 a month,” he said.

The city has about 1 million rent-stabilized apartments.


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