Board approves hikes on rent-controlled apartments

BROOKLYN - The city's Rent Guidelines Board has approved increases for rent-controlled apartments, potentially affecting some 2.5 million tenants.

Under the new guidelines, the maximum rent increase was set at 3.75 percent for one-year leases and 7.25 percent for two-year leases.

The board had been considering increases between 3 and 9 percent, but their decision nearly splits the numbers down the middle, leaving many tenants and landlords unhappy. Residents argue that the landlords are already making a profit, but the landlords say the hike is necessary to cover tax increases and the rising price for oil.

Tenants will still have the opportunity to challenge an increase on the grounds that the building has violations or that the owner doesn't need so large an increase to cover expenses. The rent changes go into effect Oct. 1.

Legislature extends NYC rent control lawBrooklyn tenants stage sleep-in for rent-regulation renewal

advertisement | advertise on News 12

Trending Video

News 12 Brooklyn hit the streets to ask 1 Word on the Street: GPS devices
2 VIDEO: Brooklyn Botanic Garden to host annual Sakura Matsuri Festival
Sea Cliff's Troy Ramey was voted off 'The 3 Elisa's Entertainment for 4/26
Aziz Chirkeev, 20, was last seen April 3 4 Brighton Beach man missing for nearly two weeks
2 men set to be arraigned Thursday, after 5 Suspects to be arraigned after Suffolk bank robbery, pursuit

advertisement | advertise on News 12


Sorry to interrupt...

Your first 5 are free

Access to News12 is free for Optimum, Comcast®, Time Warner® and Service Electric℠ video customers.

Please enjoy 5 complimentary views to articles, photos, and videos during the next 30 days.