The Real Deal New York

New Yorkers are facing hikes for rent-stabilized units

April 30, 2013 01:00PM

Tenants in rent-stabilized buildings could be looking at paying more for their apartments, the New York Post reported.

The Rent Guidelines Board meets tonight to set new preliminary increases that might be above the 2 percent and 4 percent increases handed down last year for one- and two-year lease renewals.

Bigger hikes might be coming down the pike because landlord operating costs have jumped 5.9 percent, compared with 2.8 percent previously, according to the board’s annual survey. Landlords blamed their higher expenses on the cold winter, which required them to spend 20 percent more on heating oil.

The last time that landlords had such a big increase in their operating costs, in 2011, tenants saw rent increases of 3.75 percent and 7.25 percent.

The nine-member board generally increases rents by figures comparable to operating costs, although it isn’t bound by a formula. [NYP] –Hayley Kaplan 

  • Tired Market Rate Renter

    There should be minimum increases of $100/month. My rent went up $300/month this year. I certainly wouldn’t feel sorry for someone whose rent went from $600 to $700.

    • no-permits

      there is something like that already in effect.

      • James

        the min increases are too small is my point. Taking a rent from $600 to $640 is crazy/stupid. Who thinks that is reasonable? I think that if my rent went up by $300 then why shouldn’t their rent also go up by $300. I would kill to have my rent be raised to just $900/month. But I realize a $300 increase would never pass. So I’m conceding and hoping that they can find a $100 increase (1/3rd of my rent increase) to be reasonable.

        • Pickmynose

          I didn’t realize the city made policy based on “James” feelings about his rent.