Board proposes stabilized rent increases

In a preliminary vote, the city’s Rent Guidelines Board proposed a range of rent increases for stabilized buildings, disappointing tenants and their supporters who were hoping for a rent freeze because of the recession. The board proposed increases of 2 percent to 4.5 percent for one-year leases and 4 percent to 7.5 percent for two-year leases. Last year, the board approved its highest set of rent increases since 1989 — 4.5 percent on one-year leases and 8.5 percent on two-year leases. A report released last month by the board found that operating costs for rent-stabilized buildings increased 4 percent in the last year. The board will hold two public hearings in June, and the final vote on the increases is slated for June 23.