After lowering its recommendations for rent increases last year, the Rent Guidelines Board?the nine-member panel that sets annual rent increases on rent-stabilized apartments?met landlord hopes and expectations this year by recommending larger rent increases for leases that expire after September. The range of rent increases the board suggested: between 3.25 percent and 6.25 percent for one-year leases and 5 to 9.5 percent for two-year leases. (Rents went up just 2 percent and 4 percent last year.) The Rent Guidelines Board will make its decision about the final figures in a June 20 vote.
But the preliminary recommendation pleases, as usual, absolutely no one. Tenants had, also as usual, asked for a rent freeze, the Post explains, and were left saying the increases don't match the data. Landlord reps argued that the increases weren't high enough to keep up with the costs of maintaining properties. Only around 35 tenants attended this particular meeting, but if past years are a guide, discussion will be louder and more vehement when it comes time for the vote.
· Rents slated to go up at least 3.25 percent or more for rent-stabilized apartments [NYP]
· Rent Guidelines Board coverage [Curbed]