Rent Guidelines Board to raise rents

The Rent Guidelines Board, the organization that meets annually to
determine how much landlords can raise the rents for stabilized
tenants, plans to raise rents this year, despite the economy. The
increases could be as low as 1.75 for one-year leases and 2.5 percent for two-year leases or as high as 5 and 8
percent. Last year, the increases were 4.5 for one-year leases and 8.5 percent for two-year leases. The board
said landlord expenses went up only 4 percent this year, so the rent
hike may be modest. A preliminary vote on the increases will be held
May 5.