The Rent Guidelines Board recommended increasing the rent on stabilized apartments in New York City, NY1 reported, but by a smaller amount than last year’s rise. Still, the decision was met by jeers from protestors during the vote. The decision approves rent growth of 1.75 percent to 4 percent for one-year lease renewals and rises of 3.5 percent to 6.75 percent on two-year leases. Last year the increases were 3.75 percent and 7.25 percent for one and two-year leases, respectively. [more]
Posts Tagged ‘rent guidelines board’
-
-
The Rent Guidelines Board has approved a rent hike for rent-stabilized apartments in the city, affecting some 1.1 million apartments with a 3.75 percent increase for one-year renewals and 7.25 percent for two-year contracts, the New York Daily News reported. The hikes will take effect October 1.
“It’s very disappointing,” said Jesse Duperon, who lives in a rent-stabilized unit in the East Village. “They’re turning their backs on the New Yorkers that stood through the crisis of 9/11.”The increases are more substantial than those of the past two years, the Daily News said. Last October, the board approved increases of 2.25 percent for one-year lease renewals and 4.5 percent for two-year deals. [more]
-
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. [more]
-
The city’s roughly 1 million rent-stabilized tenants are likely to see their largest rent hikes since 2008 when their leases are up, according to the Post. A study by the Rent Guidelines Board, which is scheduled to make a preliminary vote on this year’s rent increases this coming Tuesday, found that landlords’ operating costs rose 6.1 percent over the last 12 months thanks largely to the rising cost of heating fuel. Last year, when the board agreed to raise rents by a modest 2.25 percent for one-year lease renewals and 4.5 percent for two-year renewals, the numbers were based on a 3.4 percent uptick in landlord expenses. Based on the board’s latest study, rents for one-year leases will need to be raised by 3.25 percent and two-year leases by 6.5 percent. [more]
-
The Rent Guidelines Board voted 7-2 last night for the lowest rent increases since 2002 for the city’s one million rent-stabilized apartments. For one-year lease renewals, a 2.25 percent rent hike was approved; for two-year lease renewals, the increase is 4.5 percent. Predictably, reactions were split. Many landlords, whose two representatives on the board voted against the minimal increases, said they felt shortchanged, while some tenants lamented the fact that there would be a rent hike at all. [Post]
-
The Rent Guidelines Board voted 7-2 last night for the lowest rent increases since 2002 for the city’s one million rent-stabilized apartments. For one-year lease renewals, a 2.25 percent rent hike was approved; for two-year lease renewals, the increase is 4.5 percent. Predictably, reactions were split. Many landlords, whose two representatives on the board voted against the minimal increases, said they felt shortchanged, while some tenants lamented the fact that there would be a rent hike at all. [Post]
-
The Rent Guidelines Board acted illegally in imposing minimum rent hikes on rent-stabilized apartments in 2008 and 2009, an appeals court ruled yesterday. The ruling means the 300,000 affected New York City tenants could see a combined $100 million in refunds, the Daily News reported. ”The creation of this ‘poor tax’ was a direct attack by the Rent Guidelines Board on low-income tenants,” said City Council Speaker Christine Quinn. The city’s Law Department is planning to ask for a review of yesterday’s ruling by the state’s highest court, but meanwhile, the Rent Guidelines Board is slated to set new rent increases tomorrow. [NYDN]
-
The Rent Guidelines Board acted illegally in imposing minimum rent hikes on rent-stabilized apartments in 2008 and 2009, an appeals court ruled yesterday. The ruling means the 300,000 affected New York City tenants could see a combined $100 million in refunds, the Daily News reported. ”The creation of this ‘poor tax’ was a direct attack by the Rent Guidelines Board on low-income tenants,” said City Council Speaker Christine Quinn. The city’s Law Department is planning to ask for a review of yesterday’s ruling by the state’s highest court, but meanwhile, the Rent Guidelines Board is slated to set new rent increases tomorrow. [NYDN]
-
After a preliminary vote last month to raise rents on stabilized units, renters and landlords spoke out about the New York City Rent Guidelines Board’s next step at a public hearing yesterday. The first vote allowed a 2 to 4 percent annual increase for one-year lease renewals and 4 to 6 percent for two-year renewals, according to Fox News, but the final vote on June 24 will ultimately determine how much rents will rise on the approximately 1 million rent stabilized units across the city. -
After a preliminary vote last month to raise rents on stabilized units, renters and landlords spoke out about the New York City Rent Guidelines Board’s next step at a public hearing yesterday. The first vote allowed a 2 to 4 percent annual increase for one-year lease renewals and 4 to 6 percent for two-year renewals, according to Fox News, but the final vote on June 24 will ultimately determine how much rents will rise on the approximately 1 million rent stabilized units across the city.
