As you already know, the Rent Guidelines Board has proposed the possibility of a zero rent increase with guidelines ranging from 0% to 3% for a one-year lease and 0.5% to 4.5% for a two-year lease. This occurred on the same day the Mayor announced his housing plan to preserve 120,000 existing affordable apartments.
On Wednesday, May 14th, RSA Chairman of the Board Aaron Sirulnick wrote a guest editorial article in the New York Observer expressing not only his concern, but the concern of the entire rental housing industry and property owners throughout the City with the Rent Guidelines Board proposal.
It’s hard to imagine how the Mayor could possibly achieve his goal of preserving existing affordable housing with zero rent increases for property owners.
The numbers do not lie. Building operating costs increased in all categories for owners last year. Property owners want to provide safe, well-maintained, affordable housing for their tenants, but the cost of providing these services keeps rising and if there are zero rent increases this year, then it will be incredibly difficult to help the Mayor fulfill his housing plan.
Please be sure to read Aaron Sirulnick’s article in the New York Observer and see why owner participation at the RGB is more important than ever. The RSA is fighting for our members, but we need owners to join us at all of the RGB public hearings taking place next month. Call RSA Director of Communications Vito Signorile at (212) 214-9235 for more information about the public hearings and how to register to tell your story to the Rent Guidelines Board.