Updated 05/05/2009 10:34 PM
Rent Guidelines Board Approves Preliminary Hike
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By a vote of 6-to-3, the Rent Guidelines Board Tuesday passed a preliminary measure to increase the range of rents for the city's one million stabilized apartments.
For one-year leases, the board is now looking at a hike of two percent to 4.5 percent. For two-year leases, the range is four percent to 7.5 percent.
While the meeting in Cooper Union was open to the public, only members of the board were allowed to speak.
Last year, the nine-member board approved 4.5 percent hikes for one-year leases and 8.5 percent hikes on two-year leases.
Landlords say they need the increase to cover expenses like double-digit water and sewer hikes. But tenants say this economy isn't the time to be hiking rents at all.
"The numbers are pretty outrageous for this year. I think if there is any year for there to be a rent freeze it's right now," said Giti Dadlani of the Tenants and Neighbors Association.
"Percentages aren't going to help many of the small property owners, it's a very difficult balancing act between helping out owners and recognizing tenants are having a difficult time. Unfortunately you have a system in place that pits owners and tenants every year," said Rent Stabilization President Joseph Strasburg.
Two more public hearings will be held next month before the Rent Guidelines Board takes a final vote at the end of June.
The increases would go into effect on October 1st.