Rent Guidelines Board Holds Public Hearing On Rent Hikes

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By: NY1 News

The Rent Guidelines Board held another public meeting Thursday as it prepares to vote on rent increases for the city’s 1 million regulated apartments.













The board is considering a hike of between 3.25 percent and 6.25 percent on one-year leases for rent-stabilized apartments.

Two-year leases could go up between 5 percent and 9.5 percent.

Thursday’s meeting brought out landlords who said they need the increase and tenants who maintained that New Yorkers cannot handle another hike.

“I’m here today to testify for a zero rent increase,” said Helen Rosenthal of Community Board 7. “If we don’t move forward in a way that stabilizes the middle-income families and working people, this city is truly going to become either for the rich or the very, very poorest.”

“The increasing rate of property taxes and water on especially the small landlords, it’s overwhelming us, it’s crushing us. And I’m here to ask for a really fair increase this year and not the pittance in which they usually give us,” said Constance Nugent-Miller, a landlord.

The board is expected to make its final vote next Thursday at Cooper Union.


Source: NY1

Rent Guidelines Board Holds Public Hearing To Discuss Propose Increases

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By: NY1 News


The annual fight over rent increases for the city’s one million regulated apartments is nearing a conclusion.

The Rent Guidelines Board held a public hearing in Lower Manhattan on Thursday, the latest in a series of hearings to discuss proposed increases voted upon last month.

Those increases are between 3.25 and 6.25 percent on one-year leases and between 5 and 9.5 percent for two-year leases.

Tenants say they cannot afford yet another hike, while landlords say they are necessary to keep up with costs.

“There are more subsidized housing units available in this city than there are impoverished tenants. If that doesn’t work out, then there’s something wrong with the way the city is administering its housing subsidy programs,” said Jack Freund, the executive vice president of the Rent Stabilization Association. “If you place that burden on property owners, you’re just going to see an inability to maintain properties for a majority of people who can afford a moderate rent increase.”

“Right now my apartment is right on the border of being unaffordable and this would really push it over the edge,” said housing advocate Sam Stein. “I think that’s the case for thousands of tenants around the city.”

The board says more than 2,500 previously stabilized units were removed from regulations last year.

The final vote on the rent hikes is June 20.

Rent Guidelines Board Hears Testimony Over Proposed Rent Hikes

06/13/2012 11:33 PM

By: NY1 News

The Rent Guidelines Board held another hearing on proposed hikes for the city’s nearly one million rent-regulated apartments.

The rent board heard testimony from only a handful of people over a proposed range of hikes for leases signed or renewed starting in October.

One-year leases could go up between 1.75 and 4 percent.

Two-year leases could jump between 3.5 and 6.75 percent.

Property owners said the increases help cover costs, but tenants say it’s too much.

“This rent board last year passed enormous rent hikes,” said tenant Barry Soltz. “It is unfair to tenants. We’re in an economic recession. Landlords need to start paying their fair share.”

“We come here every year to seek justice from this terrible system that we have,” said Chris Athineos, a Brooklyn property owner. “Owners are just looking to meet their costs. They keep raising the water and sewer, the real estate taxes.”

The rent board will make a final decision on June 21.


Source: NY1

RGB Prelim Vote Did Not Take into Account Rising Operating Costs of Property Owners

NY 1

Updated 05/01/2012 11:37 PM

Rent Guidelines Board Approves Range For Rent Hikes

By: Natasha Ghoneim a million city rent-regulated apartment dwellers are expected to pay higher rents this fall, after the Rent Guidelines Board approved at a Tuesday vote in Cooper Union a preliminary hike range.

The proposed rent hikes are 1.75 to 4 percent for one-year leases and between 3.5 to 6.75 percent for two-year leases. Any new increases will affect leases signed or renewed starting October 1.

Board members claimed they tried to strike a middle ground on increases for rent stabilized apartments.

Tenants rights groups and Occupy Wall Street demonstrators rallied outside Cooper Union, saying they represented what they call the “rights of the 99 percent.”

They say the board, which has members allied with landlords, tenants, and the public, is just a rubber stamp for Mayor Michael Bloomberg’s policies.

However, advocates for property owners said the board did not take into account rising property taxes, water and sewer rates and the increasing price of oil.

Three more public hearing will be held before the board’s final vote on June 21.

Last year, the board hiked rents 3.75 percent on one-year leases and 7.25 percent on two-year leases.

Source: NY1