New
York City’s Rent Guidelines Board voted on Tuesday night to allow
landlords of rent-stabilized apartments to charge increases of up to 1.5
percent for one-year leases and 2.5 percent for two-year leases.
The
increases were seen as modest given the history of the nine-member
board. Still, the permitted increases were the steepest since 2013 and
were met by a barrage of loud jeers from the crowd at a public hearing
inside the Great Hall at the Cooper Union.
The increases will be in effect for any of the city’s roughly one million rent-stabilized tenants who renew leases after Oct. 1.
After
the meeting, Leah Goodridge, a board member who had proposed a freeze
for one-year leases, said data indicated that landlords would still have
been able to profit had one been implemented. An official with a
building owners’ group did not immediately return a phone call
requesting comment.
Lena
Melendez, a tenant of a rent-stabilized apartment in Washington
Heights, said that these days, when many stabilized apartments rent for
more than $2,000 a month, even low-percentage increases can be a
hardship.
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Source: The New York Times
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