What you should know
- The New York City Rent Guidelines Board will have the final vote Wednesday night to decide how much rent stabilized would rise for approximately one million apartments in the city.
- The vote comes after 4 public hearings, where the tenants have demonstrated, explaining that what they earn in salary is not enough to pay the rent if that amount increases. For their part, the owners argue that the request for the increase is due to high taxes and energy and maintenance costs.
- In May, the nine-person board held a preliminary vote on proposed rent adjustments for rent-stabilized apartments. On that 5-4 vote, the board approved an increase from 2% to 5% for one-year leases and an even larger increase from 4% to 7% for two-year leases.
NEW YORK — The New York City Rent Guidelines Board will hold the final vote Wednesday night to decide how much rent stabilized would rise for the city’s roughly one million apartments.
The vote comes after 4 public hearings, where the tenants have demonstrated, explaining that what they earn in salary is not enough to pay the rent if that amount increases. For their part, the owners argue that the request for the increase is due to high taxes and energy and maintenance costs.
In May, the nine-person board held a preliminary vote on proposed rent adjustments for rent-stabilized apartments. On that 5-4 vote, the board approved an increase from 2% to 5% for one-year leases and an even larger increase from 4% to 7% for two-year leases.
The final vote will be given at 7:00 pm and the increase that is decided will take effect in October.
Although any decision made would pertain to rent stabilized units, it is unclear how it will affect the rent of units not under rent stabilization.
Rosarina Bretón informs us.
