apartment, landlord, real estate

Rent Control, Rent Increases

Rent board rejects freeze, approves 1% hikes for 1-year leases in city

The nine-member panel voted 5-4 to reject the proposed freeze favored by Mayor de Blasio on Monday. Angry tenants stormed the stage after the vote while landlords also fumed, saying the low hikes weren’t much better than a freeze.

BY Jennifer Fermino
NEW YORK DAILY NEWS
Published: Monday, June 23, 2014, 7:57 PM
NYC PAPERS OUT. Social media use restricted to low res file max 184 x 128 pixels and 72 dpiANDREW THEODORAKIS/NEW YORK DAILY NEWSProtesters gather at the final vote during the rent guidelines hearing at the Great Hall at Cooper Union on Monday.

Ignoring Mayor de Blasio’s recommendation, the Rent Guidelines Board declined to enact a rent freeze Monday night and voted instead for modest hikes.

The nine-member board voted 5-4 to allow landlords of the city’s nearly 1 million stabilized units to increase rents by 1% for one-year leases and 2.75% on two-year leases.

The hikes, which apply to leases that begin Oct. 1 or later, are the lowest enacted in the board’s history, but the refusal to pass the first freeze ever infuriated hundreds of tenants who packed the Cooper Union meeting.

NYC PAPERS OUT. Social media use restricted to low res file max 184 x 128 pixels and 72 dpiANDREW THEODORAKIS/NEW YORK DAILY NEWSThe board voted 5-4 to allow landlords of the city’s nearly 1 million stabilized units to increase rents by 1% for one-year leases and 2.75% on two-year leases.

Angry tenants stormed up to the stage after the vote, chanting and yelling.

The board members scurried off to the sound of boos and hisses, and one man carrying a pro-tenant sign who climbed onstage was hauled off by cops.

We feel like the rug was snatched from beneath us.

“We feel like the rug was snatched from beneath us,” said disappointed Brooklyn resident Donna Mossman, 56.

De Blasio had called for a rent freeze just hours before the vote.

Read more: http://www.nydailynews.com/news/politics/rent-board-rejects-freeze-1-year-leases-article-1.1841108#ixzz35WwDSMoG

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