Decision on rent increases for stabilized units coming today

Now that rent stabilization laws have been renewed and strengthened for at least the next four years, the Rent Guidelines Board will vote today on how much landlords can raise rents in those units. According to NY1, board members will congregate at Cooper Union’s Great Hall this evening to consider rent increases of 3 to 5.75 percent for one-year lease renewals, and 6 to 9 percent for two-year renewals. The hikes would go into effect Oct. 1. While the landlord advocates argue that rising tax assessments and prices on heat and utilities warrants larger raises, tenant advocates counter that while most landlords “are doing quite well,” it’s the tenants who need whatever relief they can get. [NY1]