Rent Stabilized Tenants Prepare to Protest Hike Vote Tuesday
By Jill Colvin, DNAinfo Reporter/Producer
NEW YORK — It’s time to brace for a rent hike.
The city’s Rent Guidelines Board, which sets rates for the city’s one million rent-stabilized apartments, is set to cast its preliminary vote on increases Tuesday night.
The typically raucous hearings pit tenant groups against landlords as the board decides how much rents can legally climb in the coming year, based on owners’ rising costs and other factors.
No rent-hike numbers have been formally proposed, but a report released by the board last month floated several possibilities ranging from 1.5 percent to 3.75 percent for one-year leases, and 2 percent to 6 percent for two year leases.
The rent board’s executive director, Andrew McLaughlin, stressed that it’s up to members to decide on final numbers and that numerous factors are taken into consideration, including tenants’ ability to pay.