Rent Board Chief Marvin Markus Pleads for ‘Rationality'

Location: The Rent Guidelines Board sets increases for the one million or so stabilized apartments in the city, and you’ve recommended raising rents up to 4.5 percent this year.
Mr. Markus: For a one-year lease. We do one- and two-year leases.

Obviously, the question from tenant groups and tenants is, why are their rents going up when market-rate rents are falling in the city?
The tenant can negotiate, and say, ‘The market...

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