Renters: It's Official, You'll Pay More

Amid recession, Rent Guidelines Board approves rent hikes

Wednesday, Jun 24, 2009  |  Updated 8:19 AM EDT
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Guidelines Board Votes to Increase Rent

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Guidelines Board Votes to Increase Rent

Tenants had hoped for a rent freeze in this recession, but the nearly 1 million residents of rent-regulated apartments will see an increase in the coming year.
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About a million rent-regulated tenants in New York City will be paying more.

The Rent Guidelines Board voted for an increase of three percent, or at least 30 dollars, on one year leases. It also approved a six percent increase, or at least 60 dollars, on two year leases Tuesday night.

The vote garners protest every year, but this year, as the city struggles through a recession and unemployment is at its highest level in more than 15 years, tenants and lawmakers feel a hike would further hurt the economy.

City Councilman Bill de Blasio called on the Rent Guidelines Board to vote for a rent freeze for rent-stabilized tenants this year, something the board has never done. He told WNYC that the city is not doing enough to help lower- and middle-income New Yorkers.
     
The new rules become start on or after Oct. 1.

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