Rent Guidelines Board holds final public hearing
New Yorkers in rent-stabilized housing units could see higher rent in just a few months, as the Rent Guidelines Board is wrapping up their series of public hearings with their final one on Thursday.
The board got the opportunity to once again hear from both tenants and landlords ahead of the vote next week.
Similarly to previous public hearings, tenants say they are against the rent increase, and that it could directly worsen the ongoing homelessness and housing crises. Landlords spoke out in favor of the rent hike, saying that without an increase they won’t be able to properly repair their buildings. Many say their monthly bills and taxes currently outweigh the amount of rent they collect.
The vote next week will follow the Rent Guidelines Board’s proposed rent hike of 2% to 5% for one-year-leases and 4% to 7% for two-year leases of rent-stabilized housing units. Elected officials joined in on the conversation as well, voicing their opinions on the current housing climate.
"100,000 families are being evicted every single day," said Councilmember Rita Joseph. "We have no space in our shelters. So, we must make sure we do everything in our power to keep our families in their homes."
The final vote on this proposed rent hike is set to take place on June 21.