The Rent Guidelines Board voted 5 to 4 to allow increases of 3 percent on one-year leases and 5.75 percent on two-year leases for the city’s 1 million rent-stabilized apartments. The increases, which go into effect on October 1, are smaller than those approved last year. Tenants and landlords both expressed unhappiness with the board’s decision. Tenant advocates chanted “Zero! Zero! Shame! Shame!” during the proceedings, while landlords said the hikes were not high enough to cover rising costs. more [NYDN]
and more [Post]
Board increases stabilized rents
June 27, 2007 12:00AM
