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Rent Stabilized Tenants Face Nearly 10 Percent Rent Hike
By
John Del Signore
Published May 1, 2013
Modified May 1, 2013
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Tien Mao/Gothamist
By
John Del Signore
Published May 1, 2013
Modified May 1, 2013
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After a brief half-hour meeting last night, the Rent Guidelines Board voted on proposed increase rents for NYC rent stabilized apartments. If approved, tenants with one year leases could see their rent go up between 3.25% and 6.25%, while tenants with two-year leases face an increase between 5% and 9.5%. So a tenant with a $2,000 monthly rent on a one year lease could see an increase of $125 a month, while a tenant with a two year lease at the same rent faces a potential $190 spike.
The proposed increases, which will be voted into effect on June 20th after a series of irrelevant hearings with downtrodden tenants, are significantly higher than last year. According to the Post, landlords’ operating costs rose just 2.8% last year, resulting in rent increases of 2% and 4%. Now landlords say that costs have jumped 5.9 percent, and Jack Freund of the Rent Stabilization Association, a landlord group, says yesterday's proposed increases won't “come close” to meeting the needs of owners "struggling" to maintain properties.
Approximately one million New Yorkers live in rent stabilized apartments—all are at the mercy of the nine member Rent Guidelines Board, which is controlled by Mayor Bloomberg. Only about 35 tenants showed up at last night's meeting. One, Rosa Maria de la Torre, 66, who lives in a rent-stabilized studio in the Bronx, told the Daily News, “It’s disgusting. The rents are outrageous. They’re eliminating the middle class."
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John Del Signore
Originally from the Albany area, John Del Signore has called NYC home since 1995. In addition to his thousands of meticulously-crafted bespoke blog posts for Gothamist, his writing has also been published in The Awl, Deadspin, The Nervous Breakdown, and performed at The Brick Theater in Brooklyn.
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Gothamist is funded by sponsors and member donations
Gothamist is funded by sponsors and member donations
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