Tuesday, June 26, 2018

[Updated] Final vote tonight for the Rent Guidelines Board

After multiple public meetings, the Rent Guidelines Board (RGB) makes its final vote tonight at Cooper Union on adjustments for the city’s 1 million rent-stabilized apartments for the coming year. (The public meeting starts at 7 in the Great Hall at 7 E. Seventh St.)

Curbed has an explainer with background and what residents might expect this evening.

As The Wall Street Journal reported today, the board’s five public members signed off on a resolution that would put a range of increases – from 0.75 percent to 2.75 percent – on the table for one-year leases and allow owners to add another 1 percent for two-year leases.

In June 2017, the RGB voted to allow rent increases, with one-year leases subject to 1.25 percent raises, and two-year leases subject to 2 percent hikes — this after two consecutive years of rent freezes.

Updated 6/27

According to published reports, the RGB approved increases of 1.5 percent on one-year leases and 2.5 percent on two-year leases starting on Oct. 1.


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3 comments:

  1. AnonymousJune 26, 2018 at 3:42 PM

    PLEASE LET IT BE A BIG FAT ZERO!

    ReplyDelete
  2. AnonymousJune 27, 2018 at 9:44 AM

    Do many of these landlords even live in the city? Just wondering.

    ReplyDelete
  3. BrianJune 27, 2018 at 10:36 AM

    Over half of rentals in New York have rents not determined by the free market. No wonder we have crappy rental housing and a shortage of housing for decade upon decade.

    ReplyDelete

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