Rent Guidelines Board Approves 2.25%, 4.5% Hikes

Photograph by Paolo Mastrangelo on Flickr

Last night, the Rent Guidelines Board voted to approve rent increases for rent-stabilized apartments. The hikes are 2.25% for one-year leases and 4.5% for two-year leases. Board member Adrienne Holder, who voted for the hikes, was reportedly tearful as she said, "I know this is going to have an impact on the tenants, and I'm so sorry. This is the best we can get."

Housing advocates argued that rents should not be raised because of the recession, while building owners and landlords point out that their fixed costs (heating oil, etc.) are going up and the hikes aren't enough to cover those. A board member representing building owners, Stephen Schaller, who wanted an 8.5% hike for two-year leases, said, "It's expensive to live in this city, and it's expensive to provide housing in this city." But a tenants' advocate, Michael Mckee, wasn't happy either, "There should have been a rollback. At a minimum, there should have been a rent freeze, and the numbers show that."

The NY Times reports, "The number of rent-stabilized apartments in the city continues to fall. About 10,000 such units were lost in 2009, according to a study by the Rent Guidelines Board that was released this month; it was the largest net loss since at least 2003." Rent Stabilization Association president Joseph Strasburg also told the TImes that "10 percent of the city’s low-income rental units were endangered because owners had fallen behind in real estate taxes and municipal fees. He said the city should subsidize tenants and give property owners tax credits, rather than leave the matter up to the Rent Guidelines Board," declaring, "This is a process that continues to pit landlords against tenants."

This news comes days after a court ruled that the Rent Guidelines Board illegally raised rents for 300,000 rent-stabilized tenants in 2008 and 2009.

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By Jen Chung in News on June 25, 2010 9:02 AM

Comments [rss]

LB

Welcome to "Jew York " Home of the rich !

jles

I'm so happy Eastbound and Down is back on demand.

ReligiousWacko

Love how some complain about how landlords are greedy for wanting to charge market rent but don't think it's greedy to want 1 bedroom in west village for 1000/month.

Splicer

How about a one bedroom for $8000 or $12000? Why stop where the market is now? You'll always find someone willing to pay to prove to their friends how much money they can piss away. Hell, what is this bizarre notion that people need a roof over their heads. Are there no prisons?

soxinthecity

+1

Splicer

I think a federal investigation of the Rent Guidelines Board might be in order to find out how on-the-take they are.

How many apartments are being warehoused right now?

JacqueMehoff

true, landlords can't be doing that bad when they're warehousing apartments. it's out there, they can hold out as long as they can and they do.

femiredwood

Comments like yours make me despise rent stabilization. And again, this is from someone who happened to fall on a rent stabilized place when I moved.

femiredwood

I meant comments like #6---virgilstarkwell.

virgilstarkwell

Said it before and I'll say it again: if being a landlord isn't a lucrative enough line of work for you, do something else. A persons right to affordable housing trumps your right to a particular career choice.

gerf

You don't have a "right" to live wherever you want. You want affordable housing? Move to the bronx... or long island, and commute!

areyoutuffenuff

This thread warms my heart. Finally some people are talking sense.

I want to live in the 15 CPW penthouse but I can't because I don't have millions of dollars. Likewise, if you WANT to live in NYC and can't afford to then you don't get to live here. Period. There are plenty of inexpensive places in the US.

marchug

and people like you is why new york sucks now.

lou kritski

I've said it before and I'll say it again: if being a street sweeper or bus driver isn't a lucrative enough career for you then get into some other line of work and stop bankrupting the MTA. Why do I have to pay because you didn't go to college?

Bottomless Chips

The right to affordable housing?

Give me a break, buddy.

jles

I'm sorry.... Who said we have a "right" to affordable housing? Where is that in bill of rights?

We all need to stop thinking we're so entitled.