NYC Rent Stabilized Rent Renewal Increases for Next Year

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///width=300NEW YORK — The rent is going up for New Yorkers living in about a million rent-stabilized apartments.

The city’s Rent Guidelines Board voted Thursday night to raise rents by 2.25 percent on one-year leases and 4.5 percent on two-year leases. The increases apply to leases renewed between Oct. 1, 2010, and Sept. 30, 2011.

Last year the board’s chairman said half the stabilized apartments rent for $925 a month or less.

Tenants argued for a rent freeze. They say the hikes aren’t justified.

But building owners complain of getting socked with property taxes and water and sewer rate hikes.

Manhattan Borough President Scott Stringer warns the city is turning its affordable housing stock into a once-affordable memory.

https://www.huffingtonpost.com/2010/06/25/rentstabilized-apartments_n_625095.html

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Written by Lorenzo

Lorenzo has been hanging around the RDNY.com office for the past 20 years, and, in the process, has become the president of RDNY.com, Rent-Direct.com, and Acmelistings.com. His mission is to build RDNY.com into New York's largest no fee apartment rental service. Before RDNY.com, Lorenzo was a Regional Sales Manager for Time Equities, Inc., one of New York's largest converters of rental buildings to coops and condos. Lorenzo was once a part owner of Swift & Watson Real Estate in NYC's Greenwich Village.

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