The Rent Guidelines Board heard from landlords and tenants yesterday at a public hearing about proposed increases on rent-stabilized units. The board is considering increases ranging from 2 to 4.5 percent for one-year leases and 4 to 7.5 percent for two-year leases on the city’s 1 million rent-stabilized apartments. Tenants at the hearing said they are unable to keep up with rising rents, while landlords said they need the increases in order to pay for rising utility and tax costs. The board will vote on the proposed increases on June 26th. more [NYDN]
Trending
Rent board considers hikes
Recommended For You