Last year, the shadowy organization that meets annually to figure out how much landlords can raise rents on stabilized tenants approved the largest one-year and two-year increases since 1989 (leading to an angry bit of litigation). But now that the world has ended, will the Rent Guidelines Board?for the first time in its history?lower or leave rents unchanged? Nope. The RGB has indicated there will be increases, and they could be as little as 1.75 and 2.5 percent to as much as 5 and 8 percent, the Post reports. Last year, when the increases were 4.5 and 8.5 percent, landlord operating costs were said to have risen 7 percent. This year, the RGB says landlord expenses went up only 4 percent, so the rent hike could be modest. The first preliminary vote at Cooper Union's Great Hall will be held on May 5. Don't forget your whistles and pots.
· NY Eyes Low Rent Hikes [NYPost]
· Rent Guidelines Board coverage [Curbed]