Millions of New Yorkers living in rent stabilized apartments will now have to dish out more money each month.
will have to dish out more money each month after the Rent Guidelines Board pushed through controversial increases in a 5-4 vote.
The outcome of the vote was barely audible over the voices of disgruntled tenants chanting, blowing whistles and banging cow bells in the audience.New York City's Rent Guidelines Board has made their final vote, approving rent hikes on 1 and 2-year leases for rent stabilized apartments in the city. "They don’t care about human rights. They don’t care. They think they’re talking to dogs, trees and rubbish! They’re not concerned about us," one tenant toldIn the end, the board voted to raise rents on one-year leases by 3%.
On two-year leases, rents will go up by 2.75% in the first year and 3.2% in the second year, averaging out to a 4.4% increase over the course of two years.
Last year, they dealt with a 3.25% increase on 1-year-leases, and a 5% increase on two-year leases – the highest hike for rent-stabilized apartments in nearly a decade.Landlords, on the other hand, said they desperately need the money to combat rising property taxes, insurance, building repairs and other hefty costs across the board.
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