Gothamist
A non-profit newsroom, powered by WNYC.
Gothamist
Listen Live
News
Rent Is Too Damn High: Rent-Stabilized Tenants Get Steep 4%, 7.75% Increases
By
Jen Chung
Published Jun 21, 2013
Modified Jun 21, 2013
Share
FacebookTwitterRedditEmail
Never miss a story
Email address
By submitting your information, you're agreeing to receive communications from New York Public Radio in accordance with our Terms .
By
Jen Chung
Published Jun 21, 2013
Modified Jun 21, 2013
Share
FacebookTwitterRedditEmail
We rely on your support to make local news available to all
Make your contribution now and help Gothamist thrive in 2026. Donate today
Gothamist is funded by sponsors and member donations
Last night, the Rent Guidelines Board voted to increase rents for tenants of rent-stabilized apartments by 4% for one-year leases and 7.75% for two-year leases. This is the highest increase in five years.
Last year, the RGB voted on 2% and 4% increases for one-year and two-year leases respectively; in 2008, the increases were 4.5% and 8%. The increases typically leave both landlords/building owners and tenants furious, and this was no exception. Tenants told NY1, "Tenants are sick and tired of these outrageous increases. We're still in a recession. I'm just outraged" and "The landlords are making money, and the tenants are being squeezed."
However, Aaron Sirulnick, chairman of the Rent Stabilization Association, said, "The board has once again failed to take into consideration the ever-increasing costs that small property owners have by way of real estate taxes, water and sewer charges, and all the other regulatory charges that the board recognized but didn't take into account in their final numbers." The increases are based on "Price Index of Operating Costs, which calculates the operating and maintenance costs to landlords. Kimmel said that those costs have increased 5.9% from last year"—landlords/building owners were looking for increases of 6.25% for one-year leases and 9.5% for two-year leases (PDF).
There are about one million New Yorkers who live in rent-stabilized apartments; the increases go into effect in October. And not all developers can offer $10 apartments.
Tagged
real estate
rent
rent guidelines board
rent is too damn high
stabilized rent
Jen Chung
Jen Chung is a former WNYC and Gothamist editor.
Read more
Gothamist is funded by sponsors and member donations
Gothamist is funded by sponsors and member donations
MORE news
Queens man found dead, police say, and injured woman is his mother, neighbors say
Police are investigating a related incident in which a 62-year-old woman was found injured beneath the Van Wyck Expressway.
By
Charles Lane
Published Oct 14, 2026 at 7:39 p.m. ET
Man shot by ICE in NYC's Marble Hill said federal officers never identified themselves
The wounded man said he didn't learn ICE agents were involved until he woke up in the hospital.
By
Arya Sundaram
and
Samantha Max
News
Man shot by ICE in NYC's Marble Hill said federal officers never identified themselves
The wounded man said he didn't learn ICE agents were involved until he woke up in the hospital.
By
Arya Sundaram
and
Samantha Max
Brooklyn school dean says MTA officers assaulted him over a $3 bus fare he says he paid
By
Carol Chen
National Grid customers in NYC will see higher gas bills this winter
By
Rosemary Misdary
Bruce Blakeman joins Gov. Hochul in support for expanding NY rape law
By
Jon Campbell
Never miss a story
Catch up on the most important headlines with a roundup of essential NYC stories, delivered to your inbox daily.
Sign upEmail address
By submitting your information, you're agreeing to receive communications from New York Public Radio in accordance with our Terms .