Thursday, June 19, 2008

RGB : HUGE INCREASES

The Rent Guidelines Board voted on June 19, 2008 to grant huge increases to landlords.

Rent stabilized tenants in New York City who renew their leases any time from October 1, 2008 through September 30, 2009 face
  • For a 2-year lease, you pay an 8.5% increase
  • For a 1-year lease, you pay a 4.5% increase.

Tenants living in rent stabilized apartments for 6 or more years, with a rent of under $1000 get a higher increase: $85 for a 2-year lease, and $45 for a 1-year lease. Since we have not been in rent stabilization for 6 years, we can assert that this does not apply. (We left Mitchell-Lama on January 7, 2005.)

Check the Rent Guidelines Board announcement by clicking here.

We need a change in the RGB! Click here for a flyer explaining the issues and a bill that could help.

The NY Times wrote

Board Backs Rise in Rent Up to 8.5%



Published: June 20, 2008

EXCERPT

The board that regulates rents for New York City’s one million rent-stabilized apartments approved its highest rent increases in years at a raucous meeting on Thursday, angering tenants who said high rents were forcing the poor and working class out of the city.

At a meeting punctuated by ear-splitting whistle-blowing and shouting matches between sign-waving tenants and landlords, the city’s Rent Guidelines Board authorized rent increases of up to 4.5 percent on one-year leases and 8.5 percent on two-year leases.

The board also took the unusual and controversial step of authorizing a supplemental rent increase that affected only tenants who have lived in their apartments for six years or more. Owners of buildings with those tenants have the option of charging them the approved increases, or a $45 monthly increase for one-year leases or $85 for two-year leases, whichever is greater.

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