Quinn calls Rent Guidelines Board “sideshow”

June 11, 2008 12:32PM

City Council Speaker Christine Quinn is calling for an overhaul of the Rent Guidelines Board, saying it isn’t looking out for residents. Last month the board set stabilized rent increases at 3.5 to 7 percent for one-year leases and 5.5 to 9.5 percent for two-year leases. Frank Ricci of the Rent Stabilization Association said the increases are modest compared to increasing costs of utilities and property taxes. The brokerage CitiHabitats reported that unregulated rents in Manhattan increased 16 percent between 2005 and 2007.

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