As expected, the Rent Guidelines Board voted 5-4 in favor of increases for rent-stabilized apartments. The preliminary vote suggested 2-4% increases for 1-year leases and 4-6% increases for 2-year leases. Tenants begged, "I'm a senior citizen. I'm living on a fixed income. Please don't raise my rent,” and "To keep affordable housing for middle class, they need to keep the rents as low as possible,” while landlords and building owners argued that their fixed costs have been going up and they need an increase to just break even. The RGB will hold meetings leading up to its June final vote. more ›

The NY State Division of Housing and Community Renewal finally closed a loophole in rent regulations that would have allowed owners and landlords leaving government-subsidized housing programs to increase rents to market rates by citing "unique and peculiar" circumstances. According to the NY Times, some tenants' rents would have skyrocketed from $981/month to $4,500/month for a two-bedroom on the Upper West Side and from $1,000/month to $5,275/month for a three-bedroom, also on the Upper West... more ›