The Real Deal New York

A rent freeze is looking likely

Landlord operating costs increased just 0.5 percent last year
April 18, 2015 10:00AM

Landlord operating costs covering a million rent-stabilized apartments went up by a mere 0.5 percent last year, according to a new report from the Rent Guidelines Board. That’s the lowest increase since 2002, and it means that a rent freeze is far more likely to pass than in years past.

“The data we have right now points to either a rent rollback or a rent freeze,” Harvey Epstein, a tenant representative on the guidelines board, said.

Tenant and landlord advocates both told the New York Post that the report will put intense pressure on the board and Mayor de Blasio to freeze rents.

“We presume again that the mayor will be calling for zero [increase], and he now controls the entire board. So the prospects for a reasonable guidelines board don’t look good to us,” Jack Freund, vice president of the Rent Stabilization Association, which represents 25,000 landlords, told the Post.

De Blasio sought a rent freeze last year when operating costs went up 5.7 percent. At the time, the board decided to raise rents one percent for one-year lease renewals. [NYP]Christopher Cameron

  • Bob

    Communism there to destroy our free markets. What better way to garner lots of votes.

  • richjew

    I wonder where they get these numbers. My operating costs are definitely up more than 0.5% since last year.

  • Concerned

    This mayor and his council people are destroying this beautiful city

  • Concerned

    The regulated tenants are being used and abused by the politicians for votes, they are destroying these peoples lives whom they keep in poverty to garner their votes. Shame on us for allowing such people to rule our unique and amazing city. If we allow this to continue we will go back to dinkin years and the city will be in the toilet, then the rest of the world including Europe, Russia, and the terrorist group will get what they want. A destroyed, poor, 2 world city in New York. By allowing this regime to stay on we are letting our enemies win.

    • david99696

      It will happen anyway. The Kenyan vowed there’d be change and he’s making it happen. He’s flooding the country with illegal aliens illiterate in their own language. They are being bused around the country and given vouchers for housing, food, medical……….everything. America has become the world’s toilet and the Fuhrer is smiling. Couple that with practically a zero birthrate/aging population. The few left working will carry an ever higher burden of taxes to pay for all these bums.
      Thank You Liberals. Be proud. You will now control the government for the next 100 years.

      • Guest

        can you move out of new york??? stinks w/racist classist ignoramuses like you…

      • comment flagged

        Quick question: Do you think there were more illiterate immigrants today or in the 1920s? What percentage of Italian immigrants could read or write or speak English?

    • Guest

      say whatever you need to make yourself feel better about Mayor Krotch’s rule. the city was garbage under him. Dinkins inherited a city that had not been governed in over a decade.

      • Guest

        clueless troll

    • Guest

      It’s called economic slavery . . .
      …just ask the welfare and food stamp innercity residents with no upward mobility

  • Sherriff_B

    And when their apartments are falling apart, they will wonder why….when no one wants to build new middle/lower income housing, they will wonder why….

    • Guest

      It’s called communism ….


    poor tenants don’t keep their apartments clean because they don’t have money for anything.

  • HearBothSides

    Why aren’t they counting property taxes? That’s usually more than all operating costs combined and is up about 6%.

    • Keyed

      Because Rent Stabilized buildings get a cut on their taxes for being rent stabilized.
      And it’s not usually more than all operating costs combined.

  • New Man

    Rent rollback?!
    Is there such a thing?