Tenants in rent stabilized apartments to see increase in rent
The Rent Guidelines Board heard three proposals - one would have favored tenants, the second would have favored landlords but ultimately the proposal that was approved five to four was somewhere in between, leaving people on both sides unhappy.
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Jun 24, 2021, 2:18 AM
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Updated 1,239 days ago
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6h agoTenants in rent stabilized apartments will be paying more in rent next year.
The Rent Guidelines Board heard three proposals - one would have favored tenants, the second would have favored landlords but ultimately the proposal that was approved five to four was somewhere in between, leaving people on both sides unhappy.
For a one-year lease, rent will stay the same for the first six months, but the second half of the year will be increased by 1.5%. Two-year leases will be increased 2.5%.
"Catastrophic for tenants that are struggling. People who are the frontline workers, the people who have had to go to work during the pandemic to keep the city going," said Robert Desir from the Legal Aid Society.
Tenant advocates say the past year has been tough on these renters, while landlord advocates say they've had no relief while operational costs continue to rise.
The chair of the board backed the proposal acknowledging both sides need the help.
The rent adjustments will impact leases that are started between Oct. 1, 2021 and Sept. 30 of next year.
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